{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The UBS (Irl) ETF plc - MSCI ACWI Socially Responsible UCITS ETF is classified as non-complex under MiFID II regulations. The primary reasons for this classification are: 1. The ETF uses physical replication to track its underlying index, holding the actual securities in the same proportions as the MSCI ACWI SRI Low Carbon Select 5% Issuer Capped Index. 2. While the KIID mentions that derivatives may be used for risk reduction, cost reduction, or generating additional capital, there is no indication that these are used for leverage or in a way that would materially alter the risk profile. The derivatives usage appears to be for efficient portfolio management rather than as a core investment strategy. 3. The ETF has a straightforward investment objective of tracking a well-defined, transparent index with no leverage or inverse exposure. 4. The risk profile (category 5) is appropriate for the asset class (global equities) and does not indicate unusual complexity. 5. The ETF is UCITS-compliant, which imposes certain investor protection requirements. 6. The fact sheet confirms physical (full) replication methodology. 7. There are no indications of complex underlying assets, capital protection mechanisms, or other features that would typically trigger a complex classification. The confidence in this classification is high (90%) as all available documentation consistently points to a straightforward, physically replicated equity ETF with standard risk characteristics for its asset class.",
    "confidence": 90
}