{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "No leverage or inverse exposure",
        "Physical replication",
        "Straightforward index-tracking objective",
        "Minimal derivative exposure",
        "Clear, linear relationship to underlying performance"
    ],
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI ACWI Socially Responsible UCITS ETF (IE00BDR55927) is classified as non-complex under MiFID II. The fund uses physical replication to track the MSCI ACWI SRI Low Carbon Select 5% Issuer Capped with Developed Markets 100% hedged to EUR Index. While the KIID mentions the potential use of derivatives for hedging currency risk, this is standard practice for currency-hedged ETFs and does not indicate complexity. The fund does not use leverage, inverse strategies, or synthetic replication. The underlying index is a straightforward equity index with no complex features. The fund's risk profile is rated 6/7, which is typical for equity ETFs and does not indicate complexity. The fact sheet confirms physical replication and no significant derivative exposure beyond currency hedging. The fund is UCITS-compliant, which aligns with non-complex classification. The only potential complexity factor is the use of derivatives for currency hedging, but this is common and does not trigger complexity under MiFID II.",
    "confidence": 95
}