{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The AMUNDI ETF DAX UCITS ETF DR is a UCITS-compliant equity ETF that physically replicates the DAX NET RETURN INDEX by direct purchase of the underlying securities in proportions very close to the index. The KIID and PRIIPs KID documents confirm the use of physical replication with only limited use of forward financial instruments for hedging or exposure purposes, which is standard risk management rather than inherent derivative strategy use. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is medium-high (5/7) reflecting market risk of Eurozone equities, not complexity from derivatives or leverage. Costs are straightforward with a low ongoing charge of 0.1% and no performance fees or swap fees. The monthly factsheet confirms physical replication, no leverage, and direct investment in liquid German equities comprising the DAX 40 index. There are no capital protection or structured features. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, minimal derivative use for hedging only, no leverage, and invests in liquid, transparent securities. Therefore, under MiFID II criteria, it is classified as non-complex."
}