{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The UBS BBG Euro Area Liquid Corp 1-5 UCITS ETF uses a stratified sampling strategy to replicate the Bloomberg Euro Area Liquid Corporates 1-5 Year Total Return Index. The fund invests predominantly in bonds and transferable securities, with exposure achieved mainly through direct investment or a combination of direct investment and derivatives used only for risk management, not as an inherent part of the strategy. There is no mention of synthetic replication, swap agreements, or funded/unfunded swaps. The fund does not engage in securities lending. The PRIIPs KID explicitly states the product is 'not simple and may be difficult to understand' but the risk indicator is low (2/7), indicating low risk and no leverage or inverse exposure. The monthly factsheet confirms physical stratified sampling replication, no leverage, and investment in liquid, investment-grade corporate bonds. No capital protection or structured features are present. The risk profile is moderate (risk category 3 in KIID, 2 in PRIIPs KID), consistent with bond market volatility but no complexity triggers such as leverage or complex derivatives. Costs are straightforward with a low TER (0.16%-0.2%) and no performance fees or swap fees. No complex underlying assets like contingent convertible bonds or CLOs are held. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for risk management only, physical replication, and no leverage or synthetic structures, leading to a non-complex classification under MiFID II."
}