{
    "complex": false,
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": "None identified. Uses physical replication, straightforward index tracking, and minimal derivative exposure for currency hedging.",
    "classification": "non-complex",
    "supporting_data": "The UBS S&P 500 Scored & Screened UCITS ETF (IE00BHXMHQ65) is classified as non-complex under MiFID II. Key factors supporting this determination include: 1) Physical replication (full replication) of the S&P 500 Scored & Screened Hedged to EUR Index, 2) No leverage or inverse exposure, 3) Minimal derivative usage limited to currency hedging (selling foreign currency forwards at one-month forward rates), 4) UCITS compliance ensuring regulatory transparency and investor protection, 5) Straightforward risk profile (risk category 6 due to equity exposure but no additional complexity from derivatives or structured features). The fund's investment objective is clear (tracking the S&P 500 Scored & Screened Index), and the underlying assets are liquid, transparent equities. The KIID and factsheet confirm no capital protection mechanisms, no contingent bonds, and no swap agreements beyond basic currency hedging. The risk disclosures align with the fund's equity exposure without additional complexity from derivatives.",
    "confidence": 95
}