{
    "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 (Lux) Fund Solutions - MSCI USA 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 USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to CHF Total Return Net Index, as confirmed by the factsheet stating 'Physical (Full replicated)'. There is no mention of synthetic replication, swaps, or derivative instruments beyond standard hedging for currency risk. The fund's investment objective is straightforward: to replicate the performance of the underlying index, which consists of liquid, transparent equities. The risk profile is clearly communicated as 'high risk' (category 6), but this is typical for equity ETFs and does not indicate complexity. The fund is UCITS-compliant, further supporting its suitability for retail investors. The absence of leverage, inverse strategies, or complex structured products aligns with MiFID II's criteria for non-complex instruments.",
    "confidence": 95
}