{
    "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 - Global Gender Equality UCITS ETF 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 invests in the underlying securities of the Solactive Equileap Global Gender Equality 100 Leaders Net Total Return Index. 2. Derivative Usage: While the KIID mentions the possibility of using derivatives for hedging currency risk, the factsheet confirms no derivatives are currently used. The language about derivatives in the KIID is standard boilerplate and does not indicate actual usage. 3. Leverage/Inverse Exposure: There is no mention of leverage, inverse exposure, or amplified returns in any of the documents. 4. Underlying Assets: The fund invests in equities of developed market companies with high gender diversity scores, which are straightforward and transparent. 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 Complex Features: There are no capital protection mechanisms, structured products, or other complex features mentioned. The only potential complexity factor would be the currency hedging, but this is standard practice in many ETFs and does not trigger complexity classification under MiFID II.",
    "confidence": 95
}