{
    "complex": false,
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Currency hedging using derivatives",
        "ESG scoring complexity"
    ],
    "classification": "non-complex",
    "supporting_data": "The UBS S&P 500 Scored & Screened UCITS ETF (hedged to CHF) uses physical replication for its core strategy, which is a non-complex indicator. While it does use derivatives for currency hedging (via one-month forward contracts), this is a common practice in ETFs and does not introduce significant complexity. The fund's risk profile (risk category 6) is primarily driven by equity market volatility, which is typical for equity ETFs. The ESG scoring methodology adds some complexity to the index construction, but this does not make the ETF inherently complex under MiFID II. The fund is UCITS-compliant, which further supports its non-complex classification. The fact sheet confirms physical replication with full replication of the index, and the derivatives usage is limited to currency hedging, which is a standard practice for hedged ETFs. There are no signs of leverage, inverse exposure, or synthetic replication. The fund's risk disclosures are transparent and typical for an equity ETF.",
    "confidence": 90
}