{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The UBS MSCI EMU Universal UCITS ETF is a UCITS-compliant, physically replicating ETF that tracks a transparent equity index (MSCI EMU Universal Low Carbon Select 5% Issuer Capped Index). It does not use securities lending, does not employ leverage beyond UCITS limits, and does not use derivatives as a core part of its investment strategyu2014only for efficient portfolio management (EPM) with minimal impact on risk-return. The fund's structure, risks, and objectives are straightforward and easily understood by retail investors with basic knowledge. There are no embedded derivatives, complex indices, or contingent convertible bonds. The ETF's risk profile is driven by market volatility of equities, not by structural complexity. All these features align with the MiFID II presumption that UCITS ETFs are non-complex, provided they do not have features that make their structure, risks, or payoff difficult for retail investors to understand[1][2]. The absence of synthetic replication, significant derivative use, or other complex features supports a non-complex classification."
}