{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - 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 ETF is a UCITS-compliant fund that physically replicates the MSCI World SRI Low Carbon Select 5% Issuer Capped Total Return Net Index, investing directly in the underlying equities. The factsheet explicitly states 'Physical (Full replicated)' replication methodology. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only a note that derivatives may be used for risk reduction but not as an inherent element of the strategy, thus derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID due to equity volatility), consistent with a standard equity ETF. The fund does not engage in securities lending, has a simple fee structure (TER 0.22%), no performance fees, and no capital protection or structured features. The underlying assets are liquid equities from developed markets with ESG criteria applied, no complex bonds or contingent convertible bonds are held. The PRIIPs KID includes a comprehension warning stating the product 'is not simple and may be difficult to understand,' but this is primarily due to ESG screening and index complexity rather than structural complexity or derivative usage. The tracking error is very low (0.04%), indicating close physical replication. No counterparty risk or swap counterparty risk disclosures are present. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}