{
    "fund_name": "UBS (Irl) ETF plc - S&P 500 ESG ELITE 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 ESG ELITE Index, which consists of liquid, large-cap U.S. equities. While the KIID mentions that derivatives may be used for risk reduction, cost efficiency, or income generation, this is a common practice for efficient portfolio management (EPM) and does not inherently make the product complex under MiFID II. The risk profile (category 6) is high due to equity market volatility, but this is typical for equity ETFs and does not indicate complexity. The ETF does not employ leverage, inverse strategies, or synthetic replication, and there are no indications of exposure to illiquid or hard-to-value assets. The PRIIPs KID and factsheet confirm the straightforward, passive management approach with full physical replication.",
    "confidence": 95
}