{
    "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 - MSCI World Socially Responsible UCITS ETF (hedged to CHF) A-acc is classified as non-complex under MiFID II. The fund uses physical replication to track the MSCI World SRI Low Carbon Select 5% Issuer Capped 100% hedged to CHF Total Return Net Index, which is a straightforward equity index. The KIID and PRIIPs documents confirm that the fund does not use leverage, inverse strategies, or complex derivatives. The only derivative usage mentioned is for currency hedging, which is a common and transparent practice in ETFs. The fund's risk profile is rated as '6' (high risk), but this is typical for equity ETFs and does not indicate complexity. The fund is UCITS-compliant, which aligns with MiFID II's requirements for non-complex products. The factsheet further confirms that the fund uses physical replication and does not engage in complex strategies. The absence of any references to swaps, unfunded structures, or counterparty risk beyond standard hedging confirms the non-complex classification.",
    "confidence": 95
}