{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi MSCI Water ESG Screened UCITS ETF Dist",
    "investment_objective": "Replicate the USD-denominated MSCI ACWI IMI Water ESG Filtered Net Total Return Index using direct physical replication or sampling to minimize tracking error.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global / International Equities",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity fund that tracks an ESG-filtered MSCI water sector index. The KIID and PRIIPs KID clearly state the fund uses direct physical replication or sampling techniques, with no mention of synthetic replication, swap agreements, or derivative instruments as part of the investment strategy. The factsheet confirms 100% physical replication of the MSCI ACWI IMI Water ESG Filtered Index. There is no leverage, inverse exposure, or capital protection features. The risk rating is moderate (4/7), consistent with an international equity ETF. Costs are straightforward with a 0.60% ongoing charge and no performance fees. No complex underlying assets such as contingent convertible bonds or CLOs are held; the portfolio consists of liquid equities in the water sector. The PRIIPs KID does not include any complexity or comprehension warnings. No counterparty risk or derivative counterparty risk disclosures are present. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use limited to possible risk management, which does not trigger complexity under MiFID II. Therefore, the ETF is classified as non-complex."
}