{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI EM 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 EM Socially Responsible UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI Emerging Markets SRI Low Carbon Select 5% Issuer Capped Index using a stratified sampling strategy. The KIID and PRIIPs KID documents confirm that the fund invests predominantly in equities and transferable securities, with no securities lending and no use of synthetic replication or swap agreements. The factsheet explicitly states the replication methodology as 'physical stratified sampling' and does not mention any use of derivatives for investment purposes, only limited use for risk reduction which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The risk profile is moderate (risk category 4 in PRIIPs KID, 6 in KIID due to equity volatility), with no capital protection or structured features. Costs are straightforward with a TER of 0.24%, no performance fees, and no swap or derivative fees. The underlying assets are liquid emerging market equities with ESG criteria applied, and the index tracked is a standard MSCI ESG index with no complex contingent bonds or structured products. The PRIIPs KID states the product 'is not simple and may be difficult to understand' but this relates to the nature of emerging market equities and ESG screening rather than structural complexity such as swaps or leverage. No references to synthetic replication, counterparty risk, or complex derivatives were found. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}