{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS J.P. Morgan Global Government ESG Liquid Bond UCITS ETF is a UCITS-compliant ETF that physically replicates the J.P. Morgan Global Government ESG Liquid Bond Index using a stratified sampling approach. The KIID and factsheet explicitly state physical replication and do not mention synthetic replication, swap agreements, or derivative instruments as part of the core investment strategy. While the fund may use derivatives for hedging currency risk (currency forwards) and risk management, this is ancillary and not an inherent element of the investment strategy, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features. The underlying assets are liquid government bonds with high credit quality, and the fund does not engage in securities lending. The risk profile is moderate (risk category 4), consistent with a bond ETF. Costs are straightforward with a low TER of 0.18% and no performance fees or swap fees. No complex structured products or contingent convertible bonds are held. The index tracked is broad, transparent, and based on liquid government bonds with ESG screening, not complex indices. There are no significant counterparty risks disclosed beyond normal market risks. Therefore, the ETF does not meet MiFID II criteria for complexity and is classified as non-complex."
}