{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS Global Gender Equality UCITS ETF (IE00BDR5H305) is classified as non-complex under MiFID II for the following reasons:1. **Physical Replication**: 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 hedged to CHF Index.2. **No Leverage or Inverse Exposure**: The fund does not employ leverage or inverse strategies, and there are no references to amplified returns or gearing in the KIID or factsheet.3. **No Synthetic Replication or Swaps**: The fund does not use synthetic replication or swap agreements. The KIID mentions the use of derivatives for hedging currency risk (selling foreign currency forwards), but this is a standard practice for currency-hedged ETFs and does not introduce complexity.4. **Transparent and Liquid Underlying Assets**: The fund invests in large-cap equities of companies with high gender diversity scores, which are liquid and transparent.5. **No Capital Protection or Structured Features**: The fund does not have capital protection mechanisms, barrier options, or structured return formulas.6. **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. The risks are clearly disclosed and relate to market volatility, not derivative or counterparty risks.7. **UCITS Compliance**: The fund is UCITS-compliant, which inherently limits the use of complex strategies and derivatives.8. **No Complex Indices or Underlying Assets**: The index is a straightforward equity index with no embedded derivatives or complex structures.The only potential complexity factor is the use of derivatives for currency hedging, but this is a standard practice for currency-hedged ETFs and does not make the fund complex under MiFID II. The fund's overall structure, transparency, and lack of leverage or synthetic replication support its classification as non-complex.",
    "confidence": 95
}