{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Use of derivatives for efficient portfolio management; no synthetic replication or embedded derivatives",
    "classification": "non-complex",
    "supporting_data": "The UBS (Lux) Fund Solutions - MSCI EMU Socially Responsible UCITS ETF is a UCITS-compliant ETF that primarily invests physically in the underlying securities of the MSCI EMU SRI Low Carbon Select 5% Issuer Capped Index. It may use derivatives only for efficient portfolio management (EPM) purposes, such as replicating the index when direct investment is not practicable or to generate efficiencies. The ETF does not engage in securities lending, does not use leverage beyond UCITS limits, and does not embed derivatives such as swaps or structured products. The replication method is physical, holding substantially all component securities, which supports transparency and ease of understanding for retail investors. The fund's risk profile is driven by market volatility and tracking error, which are standard and straightforward risks. The derivatives used are limited to EPM with minimal impact on the risk-return profile, and no synthetic replication or embedded derivatives are present. According to MiFID II Article 254 and Delegated Regulation EU 2017/565 Article 57, such an ETF meets the criteria for non-complex classification. The fund's structure, transparency, and risk profile are easily understood by retail investors with basic knowledge, and no complex features such as significant leverage, embedded derivatives, or opaque indices are identified. Therefore, the ETF is classified as non-complex under MiFID II appropriateness rules."
}