{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS MSCI EMU Socially Responsible UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI EMU Socially Responsible UCITS ETF is a UCITS-compliant ETF that physically replicates the MSCI EMU SRI Low Carbon Select 5% Issuer Capped 100% hedged to USD Total Return Net Index. The fund invests predominantly in equities of developed European Economic and Monetary Union countries with a socially responsible and ESG focus. The KIID and PRIIPs KID documents confirm that derivatives may be used only to gain efficiencies or where physical replication is impracticable, but there is no indication that derivatives or swaps are an inherent part of the investment strategy. The factsheet explicitly states the replication methodology as 'Physical (Full replicated)'. There is no leverage, inverse or amplified exposure mentioned. The risk profile is moderate (risk category 5 in KIID, 4 in PRIIPs KID), consistent with equity market volatility, without complex derivative risk disclosures or counterparty risk warnings. Costs are straightforward with a TER of 0.23%, no performance fees, and no swap or derivative fees. The fund does not engage in securities lending. The index tracked is a standard MSCI ESG index with 73 constituents, no complex structured products or contingent bonds are held. The currency hedging is done via currency forwards but this is a standard hedging technique and does not imply synthetic replication or unfunded swaps. No capital protection or structured features are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests directly in liquid, transparent securities, and uses physical replication. Therefore, under MiFID II, this ETF is classified as non-complex."
}