{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - Bloomberg MSCI Euro Area Liquid Corporates Sustainable UCITS ETF",
    "investment_objective": "Passive tracking of Bloomberg MSCI Euro Area Liquid Corporates Sustainable Total Return Index using stratified sampling",
    "primary_asset_class": "Bond",
    "geographic_focus": "Euro Area",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF investing primarily in investment grade EUR-denominated corporate bonds from Eurozone issuers. The replication method is physical using stratified sampling, with no indication of synthetic replication or swap usage. The KIID and PRIIPs KID both confirm that derivatives may be used only for risk management purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure mentioned. The risk profile is moderate to low (risk category 4 in KIID, 2 in PRIIPs KID), consistent with investment grade bonds. The fund does not engage in securities lending, has a low ongoing charge (0.13%), no performance fees, and no complex capital protection or structured features. The underlying assets are straightforward corporate bonds with no contingent convertible bonds or complex structured products. The factsheet confirms physical replication and no use of swaps or synthetic structures. The PRIIPs KID states the product is 'not simple and may be difficult to understand' but this is likely due to bond market complexity and ESG screening rather than structural complexity. There are no references to funded or unfunded swaps, counterparty risk beyond normal bond issuer credit risk, or leverage. Tracking error is very low (~0.04%-0.06%), indicating close index replication. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}