{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS (Irl) ETF plc - S&P 500 Scored & Screened UCITS ETF is classified as non-complex under MiFID II based on the following analysis:1. **Replication Method**: The fund uses physical (full) replication as confirmed in the fact sheet, investing directly in the securities of the S&P 500 Scored & Screened Index. This is a non-complex indicator.2. **Derivative Usage**: While the KIID mentions the possibility of using derivatives for risk reduction, cost reduction, or generating additional capital/income, the fact sheet explicitly states that the fund does not use derivatives for replication. The mention of derivatives in the KIID is likely a standard disclosure for UCITS funds, not an indication of actual usage. The fund's tracking error is minimal (0.02%), suggesting no significant derivative usage.3. **Leverage and Inverse Exposure**: The fund does not employ leverage or inverse strategies, as confirmed by the absence of terms like 'leveraged,' 'inverse,' or 'gearing' in the documentation.4. **Underlying Asset Complexity**: The fund invests in equities of the S&P 500, which are liquid and transparent securities. There is no mention of complex underlying assets like contingent convertible bonds, CLOs, or structured products.5. **Capital Protection**: The fund does not offer capital protection or structured return features.6. **Risk Profile**: The fund is in risk category 6 due to the volatility of equities, but this does not indicate complexity. The risk is clearly disclosed and typical for equity ETFs.7. **Costs and Charges**: The fund has a straightforward fee structure with a TER of 0.10%, and no performance fees or complex fee arrangements.8. **UCITS Compliance**: The fund is UCITS-compliant, which inherently limits the use of complex strategies and derivatives.9. **Counterparty Risk**: There is no mention of counterparty risk in the fact sheet, and the physical replication method eliminates counterparty risk from derivatives.10. **Index Complexity**: The S&P 500 Scored & Screened Index is a broad-based, market-cap-weighted index with ESG screening, but it is not inherently complex. The screening process is transparent and does not introduce complexity.**Conclusion**: The fund is non-complex because it uses physical replication, invests in liquid equities, has no leverage or inverse exposure, and does not employ complex strategies or derivatives. The mention of derivatives in the KIID is a standard disclosure and not indicative of actual usage.",
    "confidence": 95
}