{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI EMU Socially Responsible UCITS ETF hCHF acc",
    "investment_objective": "Passive replication of MSCI EMU SRI Low Carbon Select 5% Issuer Capped 100% hedged to CHF Total Return Net Index",
    "primary_asset_class": "Equity",
    "geographic_focus": "European Economic and Monetary Union (EMU)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF that physically replicates the MSCI EMU SRI Low Carbon Select 5% Issuer Capped 100% hedged to CHF Total Return Net Index. The fund invests directly in the underlying securities with full physical replication, as confirmed by the factsheet. Although the KIID and PRIIPs KID mention the possible use of derivatives to gain exposure or for efficiency where direct replication is not practicable, the factsheet clarifies that the replication methodology is physical and no synthetic replication or swap usage is employed. There is no mention of funded or unfunded swaps, total return swaps, or counterparty risk beyond normal market risks. The fund does not use leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7) in the PRIIPs KID and 6 in the KIID, reflecting equity market volatility and currency hedging risk, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.23%, no performance fees, and no securities lending. The index tracked is a standard ESG-focused equity index with 73 constituents, no complex underlying assets like contingent convertible bonds or CLOs. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for risk management rather than as a core strategy element, physical replication, no leverage, and no complex structured features, leading to a non-complex classification under MiFID II."
}