{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Currency hedging via forwards",
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI EMU Socially Responsible UCITS ETF tracks the MSCI EMU SRI Low Carbon Select 5% Issuer Capped 100% hedged to GBP Index. The fund uses a passive management approach with direct investments in all or substantially all of the component securities and/or derivatives only where replication is not practicable or to generate efficiencies. The document explicitly states the use of currency forwards for hedging currency risk, but no mention of swap agreements, total return swaps, or synthetic replication is found. The replication method is primarily physical, with possible limited derivative use for hedging rather than for investment exposure. There is no leverage, inverse or amplified exposure. The risk profile is moderate (category 5), consistent with equity exposure and currency risk, without complex derivative or leverage risks. No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. The fund is UCITS compliant. The complexity arises only from the currency hedging via forwards, which is a common and relatively simple derivative use for risk management, not for investment exposure. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}