{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "classification": "non-complex",
    "supporting_data": "The BNP Paribas Easy ESG Enhanced US UCITS ETF is a UCITS-compliant ETF, which is automatically classified as non-complex under MiFID II unless it has features that make its structure, risks, or payoff difficult for retail investors to understand[1]. The fund's objective is to provide exposure to the US equity market with an ESG overlay, tracking the S&P 500 Net Total Return Index. It uses physical replication, holding the underlying securities of the index, and does not employ synthetic replication or derivatives integral to its strategy. The fund applies an active ESG integration approach, but this does not introduce structural complexity or derivative exposure that would trigger a complex classification. There is no evidence of embedded derivatives, significant leverage, or other features (e.g., contingent convertible bonds, swaps, complex indices) that would make the ETF complex. The risks described in the KID are standard equity market risks (volatility, tracking error), not structural or derivative-related risks. Therefore, the ETF meets all criteria for non-complex classification under MiFID II Article 25(4) and Article 57 of the Delegated Regulation[1]."
}