{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Representative sampling, currency hedging via forwards",
    "classification": "non-complex",
    "supporting_data": "The UBS BBG MSCI US Liquid Corp Sustainable UCITS ETF uses a stratified sampling strategy with portfolio optimisation to replicate the Bloomberg MSCI US Liquid Corporates Sustainable Index. The fund invests predominantly in bonds and transferable securities, with at least 90% of assets in index constituents. The replication is achieved mainly through direct investment or a combination with derivatives used for hedging currency risk (currency forwards), not for leverage or synthetic replication. There is no mention of swap agreements, total return swaps, or unfunded/funded swap structures. The fund does not engage in securities lending. The risk profile is moderate (risk category 5 in KIID, 3 in PRIIPs KID), reflecting bond market volatility and currency risk, but no leverage or inverse exposure is present. Costs are straightforward with no performance fees or swap fees. The PRIIPs KID confirms the fund is suitable for retail investors with basic financial understanding and does not carry a comprehension warning. The use of derivatives is limited to currency hedging, which is considered risk management rather than an inherent part of the investment strategy. No capital protection or structured features are present. The underlying assets are liquid corporate bonds with ESG screening, not complex structured products or contingent convertible bonds. Therefore, under MiFID II criteria, the ETF is classified as non-complex."
}