{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS SBI\u00ae Foreign AAA-BBB 5-10 ESG UCITS ETF",
    "investment_objective": "Passive replication of the SBI\u00ae ESG Foreign AAA-BBB 5-10 Total Return Index using stratified sampling and portfolio optimisation techniques.",
    "primary_asset_class": "Bonds (Investment grade CHF-denominated foreign bonds rated AAA to BBB)",
    "geographic_focus": "Foreign issuers (non-Swiss) with bonds listed on SIX Swiss Exchange",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses a physical stratified sampling replication method investing directly in a representative sample of bonds from the SBI\u00ae ESG Foreign AAA-BBB 5-10 Total Return Index. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, not as an inherent part of the investment strategy. The PRIIPs KID explicitly states the product is 'not simple and may be difficult to understand' but this relates to the bond market complexity rather than structural complexity of the ETF itself. The risk profile is moderate to low (risk category 2 in PRIIPs KID, 4-5 in MiFID KIID), with no leverage or inverse exposure. The fund invests in liquid, investment-grade bonds with no capital protection or structured features. Costs are straightforward with a TER of 0.20% and no performance fees or swap fees. The monthly factsheet confirms physical replication and no securities lending. No complex underlying assets such as contingent convertible bonds or CLOs are held. Counterparty risk is minimal as no swaps are used. Overall, the ETF is a straightforward, physically replicated bond index fund with minimal derivative use for hedging, thus classified as non-complex under MiFID II."
}