{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Derivative use for efficient portfolio management, not central to strategy; no embedded derivatives, no significant leverage, no complex indices, no contingent convertible bonds, no swaps, no inverse or leveraged structure",
    "supporting_data": "The UBS MSCI World Socially Responsible UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, well-documented equity index. It may use derivatives for efficient portfolio management (EPM), such as managing inflows/outflows or hedging currency risk, but derivatives are not central to its investment objective. The fund does not engage in securities lending, does not use significant leverage, and does not hold complex bonds or structured products. The risk profile is high due to equity market volatility, but this reflects market risk, not structural complexity. The structure, risks, and objective are straightforward and can be understood by retail investors with basic knowledge. There is no evidence of embedded derivatives, swaps, or other features that would introduce opacity or advanced risks.",
    "classification": "non-complex"
}