{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI World Socially Responsible UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI World Socially Responsible UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI World SRI Low Carbon Select 5% Issuer Capped Total Return Net Index through direct investments in substantially all component securities. The KIID and PRIIPs KID confirm that derivatives may be used only occasionally and for efficiency or practical reasons, not as an inherent part of the investment strategy, thus derivatives usage is minimal and for risk management rather than exposure. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not use leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (risk category 5 in KIID, 4 in PRIIPs KID), consistent with equity market volatility, without complexity flags such as capital protection or structured features. Costs are straightforward with a low TER of 0.22%, no performance fees, and no swap or derivative fees. The factsheet confirms full physical replication and no securities lending. The index tracked is a broad ESG-focused equity index with 375 constituents across 23 developed markets, with no complex derivatives embedded. The PRIIPs KID states the product is 'not simple and may be difficult to understand' but this is likely due to ESG screening and index complexity rather than structural complexity of the ETF itself. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms, leading to a non-complex classification."
}