{
    "name": "UBS MSCI Japan Socially Responsible UCITS ETF hEUR acc",
    "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 MSCI Japan SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Index. It does not employ leverage, inverse strategies, or synthetic replication. While derivatives are mentioned as a possibility for risk management, there is no indication of their use beyond standard efficient portfolio management (EPM). The fund's risk profile is clearly disclosed, and it is UCITS-compliant, which generally aligns with non-complex classifications under MiFID II. The underlying assets are straightforward equities with ESG screening, and there are no indications of complex structures or illiquid holdings.",
    "confidence": 95,
    "risk_level": 6,
    "currency_hedging": true,
    "esg_focus": true,
    "counterparty_risk": false,
    "liquidity_risk": "normal",
    "benchmark_complexity": "standard equity index with ESG criteria",
    "additional_notes": "The ETF is physically replicated, UCITS-compliant, and does not exhibit any of the key complexity triggers under MiFID II. The use of derivatives is limited to potential EPM, which does not classify the product as complex. The ESG focus and currency hedging do not introduce additional complexity under MiFID II rules."
}