{
    "fund_name": "UBS Core MSCI EMU UCITS ETF",
    "isin": "LU0147308422",
    "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 EMU Index, with no mention of synthetic replication, swaps, or derivatives in the KIID or fact sheet. The fund's risk profile is rated 6/7, but this reflects the volatility of the underlying equities rather than structural complexity. The fact sheet confirms 'Physical (Full replicated)' replication methodology. No leverage, inverse strategies, or complex structured features are present. The fund is UCITS-compliant, further indicating a non-complex structure. The only derivative-related mention in the KIID is about potential counterparty risk from derivatives used for risk management, but this is standard for UCITS ETFs and does not trigger complexity under MiFID II. The MSCI EMU Index is a straightforward equity index, and the fund's investment policy focuses on direct replication of the index components.",
    "confidence": 95
}