{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS Climate Aware Global Developed Equity CTB UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The fund uses physical replication (full replication) as confirmed in the factsheet, meaning it directly invests in the securities of the underlying index. 2. Derivative Usage: While the KIID mentions the possibility of using derivatives for risk reduction or cost management, the factsheet explicitly states physical replication, and there is no evidence of synthetic replication or swap agreements in the provided documents. 3. Leverage/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 documents. 4. Underlying Assets: The fund invests in large and mid-cap global equities from developed markets, which are liquid and transparent. 5. Risk Profile: The fund is in risk category 6 due to equity market volatility, but this is typical for equity funds and does not indicate complexity. 6. UCITS Compliance: The fund is UCITS-compliant, which inherently limits complexity. 7. No Complex Features: There are no capital protection mechanisms, structured products, or contingent bonds mentioned. The fund's climate-focused strategy does not introduce complexity beyond standard equity investing. The only potential complexity indicator is the mention of derivatives in the KIID, but this is mitigated by the factsheet's confirmation of physical replication and the lack of specific derivative strategies in the documents. The fund's straightforward equity exposure and physical replication method align with non-complex classifications under MiFID II.",
    "confidence": 90
}