{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS SBI\u00ae Foreign AAA-BBB 1-5 ESG UCITS ETF",
    "investment_objective": "Passive replication of the SBI\u00ae ESG Foreign AAA-BBB 1-5 Total Return Index using stratified sampling and portfolio optimisation techniques.",
    "primary_asset_class": "Bonds (Investment grade foreign CHF-denominated bonds)",
    "geographic_focus": "Foreign issuers (non-Swiss) with bonds denominated in CHF",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF that physically replicates the SBI\u00ae ESG Foreign AAA-BBB 1-5 Total Return Index through stratified sampling and portfolio optimisation. The fund invests predominantly in investment grade bonds issued by governments, supranational organizations, and corporations, all denominated in CHF. The KIID and PRIIPs KID confirm that derivatives may be used only to achieve proportionate exposure or for risk management, but there is no indication of synthetic replication or swap usage. The factsheet explicitly states physical replication and no securities lending. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate to low (risk category 3 in KIID, 2 in PRIIPs KID), consistent with a straightforward bond ETF. Costs are simple with a TER of 0.20%, no performance fees, and no swap or derivative fees. The underlying assets are liquid, investment grade bonds with no complex structured products or contingent convertible bonds. The PRIIPs KID includes a standard comprehension warning that the product is 'not simple and may be difficult to understand,' which is common for bond ETFs but does not reflect inherent complexity under MiFID II. No references to funded or unfunded swaps, counterparty risk beyond normal bond credit risk, leverage, or structured features were found. The tracking error is low, and the fund aims for close index replication. Therefore, the ETF does not meet MiFID II criteria for a complex financial instrument."
}