{
    "complex": false,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS (Irl) ETF plc - MSCI ACWI Socially Responsible UCITS ETF (hedged to GBP) is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The fund uses physical replication ('full replication') as confirmed in the factsheet, meaning it directly holds the securities of the underlying index. 2. Derivative Usage: While the KIID mentions the potential use of derivatives for hedging currency risk, the factsheet clarifies this is for reducing costs or managing risk, not as an inherent part of the strategy. There is no evidence of synthetic replication or swap usage. 3. Leverage/Inverse Exposure: The fund does not employ leverage or inverse strategies. 4. Underlying Assets: The index consists of liquid, transparent equities with no indication of complex or illiquid holdings. 5. Risk Profile: The fund is in risk category 6 due to equity market volatility, but this is typical for equity ETFs and does not indicate complexity. 6. UCITS Compliance: The fund is UCITS-compliant, which inherently limits complexity. 7. No Capital Protection: There are no capital protection mechanisms or structured features. The PRIIPs KID and factsheet do not introduce any additional complexity factors. The fund's straightforward physical replication, transparent underlying assets, and lack of leverage or synthetic structures make it suitable for retail investors.",
    "confidence": 95
}