{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS Factor MSCI USA Quality Screened UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI USA Quality Advanced Target Select Index through direct investments in the underlying securities. The KIID and PRIIPs KID documents indicate that derivatives may be used only occasionally for efficiency or risk management, but not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or funded/unfunded swaps. The factsheet confirms full physical replication with no leverage or inverse exposure. The fund invests predominantly in large and mid-cap US equities, which are liquid and transparent. The risk profile is medium (4 out of 7 in PRIIPs KID, 5-6 in KIID), reflecting equity market volatility rather than complexity. There are no capital protection features, structured products, or complex underlying assets such as contingent convertible bonds. Costs are straightforward with a simple TER of 0.25% and no performance fees or swap fees. Counterparty risk is minimal and only related to occasional OTC derivatives use for efficiency, mitigated by collateral policies. No complexity flags such as leverage, synthetic replication, or complex derivatives are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}