{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - MSCI Japan Socially Responsible UCITS ETF, class (hedged to EUR) A-acc",
    "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 physically replicating the MSCI Japan SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Total Return Net Index. The fund invests predominantly in Japanese large and mid-cap equities, directly holding the underlying securities with full physical replication as confirmed by the factsheet. The KIID and PRIIPs KID mention that derivatives may be used only for hedging currency risk (currency forwards) and possibly for operational efficiencies, but not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 out of 7 in KIID due to equity volatility), but this is typical for equity ETFs and does not indicate complexity under MiFID II. Costs are straightforward with a TER of 0.22%, no performance fees, and no securities lending. The PRIIPs KID explicitly states the product is 'not simple and may be difficult to understand' due to ESG and currency hedging features, but this does not translate into complexity from a MiFID II replication or structural perspective. No capital protection or structured features are present. Overall, the fund's structure and documentation indicate a non-complex ETF under MiFID II rules."
}