{
    "ok": true,
    "_meta": {
        "isin": "IE0004YRJHW4",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "strict",
        "policy_mode_description": "Any material derivative, swap, synthetic, complex underlying, structured payoff, roll-cost, leverage, inverse, or PRIIPs warning signal can drive complex classification.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-30T10:43:38+00:00",
        "captured_unix": 1782816218
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    "classification": "complex",
    "confidence": 0.88,
    "review_required": false,
    "decision_rule_applied": "strict_etf_swap_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "UBS MSCI Canada Universal UCITS ETF",
    "isin": "IE0004YRJHW4",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": false,
        "derivatives_epm_only": null,
        "swaps": true,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": true,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": true,
        "illiquid_or_hard_to_value_underlying": true,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Swap usage"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Synthetic or swap-based exposure",
            "Counterparty exposure may be relevant to returns or risk",
            "Less liquid or harder-to-value underlying exposure language",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The product appears to use synthetic or swap-based exposure. This may be difficult for ordinary retail clients to understand because returns can depend not only on the referenced market exposure but also on derivative mechanics, collateral arrangements and counterparty risk.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
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            "source": "KIID",
            "signal": "fund_name",
            "quote": "UBS MSCI Canada Universal UCITS ETF (the \"Fund\"), a sub-fund of UBS (Irl) ETF plc (the \"Company\"), class CAD acc (ISIN: IE0004YRJHW4)"
        },
        {
            "source": "KIID",
            "signal": "type",
            "quote": "UBS MSCI Canada Universal UCITS ETF"
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "This Fund's management company is UBS Asset Management (Europe) S.A., a subsidiary of UBS AG."
        },
        {
            "source": "KIID",
            "signal": "replication_method",
            "quote": "The Fund will seek to hold all of the shares of the Index, in the same proportions as the Index, so that essentially the portfolio of the Fund will be a near mirror image of the Index."
        },
        {
            "source": "FACTSHEET",
            "signal": "replication_method",
            "quote": "Replication methodology Physical (Full replicated)"
        },
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Fund may use derivatives which can reduce investor risks or give rise to market risks as well as potential loss due to failure of counterparty."
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "The Fund is passively managed and seeks to track performance of the MSCI Canada Universal Low Carbon Select 5% Issuer Capped Index (Net Total Return) (the 'Index')."
        },
        {
            "source": "KIID",
            "signal": "securities_lending",
            "quote": "The Fund will not enter into any securities lending."
        },
        {
            "source": "FACTSHEET",
            "signal": "asset_class",
            "quote": "The MSCI Canada Universal Low Carbon Select 5% Issuer Capped Index is constructed from the MSCI Canada Index including large and mid-cap securities of the Canada equity market."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "The fund is a UCITS ETF."
        }
    ],
    "supporting_data": "ETF has evidenced core or synthetic swap usage. Policy mode: strict. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [
        "illiquid_or_hard_to_value_underlying_identified"
    ],
    "sources": {
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            "url": "https://oppl.ai/apy/doc_store/IE0004YRJHW4_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8455,
            "error": null
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        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0004YRJHW4.txt",
            "found": true,
            "http_code": 200,
            "bytes": 12201,
            "error": null
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        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0004YRJHW4_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 41035,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0004YRJHW4&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 61,
            "error": null
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    }
}