{
    "fund_name": "UBS S&P 500 Scored & Screened UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the S&P 500 Scored & Screened Hedged to EUR Index, which is a straightforward, market-cap-weighted equity index. While the KIID mentions the potential use of derivatives for risk reduction, cost efficiency, or income generation, it explicitly states that these are not used for leverage or speculative purposes. The fund does not employ synthetic replication, swaps, or other complex instruments. The risk profile (category 6) is primarily due to the inherent volatility of equity markets rather than structural complexity. The ESG screening process, while sophisticated, does not introduce additional financial complexity. The fund's transparency, liquidity, and straightforward replication methodology align with non-complex classification criteria under MiFID II.",
    "confidence": 95,
    "counter_argument_consideration": "Some might argue that the ESG scoring methodology adds complexity, but this is related to the index construction rather than the financial structure of the ETF itself. The use of derivatives is explicitly limited to non-speculative purposes, and the physical replication method remains the primary strategy, supporting the non-complex classification."
}