{
    "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 EUR) A-dis is classified as non-complex under MiFID II based on the following analysis: 1. Replication Method: The fund uses physical (full) replication as confirmed in the factsheet, meaning it directly invests in the securities of the MSCI USA SRI Low Carbon Select 5% Issuer Capped 100% hedged to EUR Total Return Net Index. 2. Derivative Usage: While the KIID mentions the potential use of derivatives for risk reduction, the factsheet confirms no synthetic replication or swap usage. The derivatives mentioned are likely for hedging currency risk (EUR hedging) rather than as an inherent part of the strategy. 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 equities of companies with high ESG ratings, which are liquid and transparent. 5. Risk Profile: The fund is in risk category 6 due to equity market volatility, but this is standard for equity ETFs and does not indicate complexity. 6. Costs: The TER is 0.25%, with no performance fees or complex fee structures. 7. UCITS Compliance: The fund is UCITS-compliant, which inherently limits complexity. 8. Counterparty Risk: No significant counterparty risk is disclosed beyond standard market risks. The only potential complexity factor is the currency hedging, but this is a standard feature of many ETFs and does not trigger a complex classification under MiFID II.",
    "confidence": 90
}