{
    "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 USA Climate Paris Aligned 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 fact sheet, which is a non-complex indicator. 2. Derivative Usage: While the KIID mentions the possibility of using derivatives for risk reduction or generating additional capital/income, the fact sheet explicitly states no derivatives are used. The language in the KIID is precautionary and not indicative of actual derivative usage. 3. Leverage: There is no mention of leverage, inverse exposure, or amplified returns in any of the documents. 4. Underlying Assets: The fund invests in large and mid-cap US equities with no mention of complex or illiquid securities. 5. Risk Profile: The fund is in risk category 6 due to equity market volatility, but this is standard for equity ETFs and not indicative of complexity. 6. Costs: The TER is 0.09%, with no performance fees or complex fee structures. 7. UCITS Compliance: The fund is UCITS-compliant, which inherently limits complexity. The fact sheet confirms the fund holds the majority of index constituents physically, with no swap agreements or counterparty risk. The index itself is a climate-aligned equity index with no complex features. The only potential complexity factor mentioned is the possibility of derivative usage, but this is not reflected in the actual portfolio holdings or strategy as per the fact sheet. Therefore, the fund meets all criteria for a non-complex classification under MiFID II.",
    "confidence": 95
}