{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - MSCI USA Socially Responsible UCITS ETF (hedged to EUR) A-dis",
    "investment_objective": "Passive replication of the MSCI USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Total Return Net Index, focusing on best-in-class ESG US companies with currency hedging to EUR.",
    "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 100% hedged to EUR Total Return Net Index) with no synthetic replication or swap agreements mentioned. The KIID and PRIIPs KID confirm that derivatives may be used only for hedging currency risk, not as an inherent part of the investment strategy, so derivatives are not considered complexity drivers here. There is no leverage, inverse or amplified exposure. The fund invests directly in liquid equities, with no 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 but driven by equity volatility, not complexity). Costs are straightforward with a TER of 0.25%, no performance fees, and no swap or derivative fees. The fund is UCITS compliant and regulated by CSSF. The PRIIPs KID includes a standard comprehension warning that the product is 'not simple and may be difficult to understand' which is common for equity ETFs but does not indicate synthetic or complex structures. The factsheet confirms physical replication, no securities lending, and no use of swaps. The index tracked is a standard MSCI ESG index with 184 constituents, no complex structured indices or contingent features. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection features. Therefore, it should be classified as non-complex under MiFID II."
}