{
    "fund_name": "UBS (Irl) ETF plc - MSCI Australia UCITS ETF (hedged to CHF)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Australia 100% hedged to CHF Index, with no leverage, inverse exposure, or synthetic replication. The fund invests directly in equities and does not use derivatives for investment purposes, only for currency hedging. The risk profile is straightforward (risk category 6 due to equity volatility), and the fund is UCITS-compliant, indicating suitability for retail investors. The fact sheet confirms physical replication with no swap usage. The only complexity factor is currency hedging, which is standard for hedged ETFs and does not trigger MiFID II complexity.",
    "confidence": 95
}