{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - MSCI USA Socially Responsible UCITS ETF",
    "investment_objective": "Passive replication of the MSCI USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to CHF Total Return Net Index, focusing on ESG best-in-class US equities with currency hedging to CHF.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical full replication of a broad, liquid equity index (MSCI USA SRI Low Carbon Select 5% Issuer Capped). The KIID and PRIIPs KID confirm that derivatives may be used only for hedging currency risk or to gain efficiencies where direct replication is impracticable, but this does not constitute synthetic replication or inherent derivative strategy use. The factsheet explicitly states 'Replication methodology: Physical (Full replicated)'. There is no mention of swap agreements, total return swaps, or counterparty risk beyond normal operational risk. Leverage or inverse strategies are not employed. The risk profile is medium (4 out of 7 in PRIIPs KID, 5-6 in KIID), consistent with equity market volatility, not complexity. Costs are straightforward with a TER of 0.25%, no performance fees, and no securities lending. The index tracked is a standard MSCI ESG index with 183 constituents, no complex structured products or contingent bonds are held. The fund is UCITS compliant and regulated by CSSF. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund is a standard physical equity ETF with ESG tilt and currency hedging, not complex under MiFID II criteria."
}