{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI WORLD EX USA UCITS ETF ACC",
    "investment_objective": "Track the performance of MSCI World ex USA Index with minimal tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global developed markets excluding the United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the MSCI World ex USA Index through direct physical replication by investing in transferable securities representing the index constituents in proportions close to the index. The KIID and PRIIPs KID explicitly state the use of physical replication and direct investments, with derivatives only used for efficient portfolio management and managing inflows/outflows, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or funded/unfunded swaps. Leverage or inverse exposure is not present. The risk indicator is moderate (4/7), reflecting market risk typical of equity ETFs, with no capital protection or structured features. Costs are straightforward with no performance fees or swap fees. The fund is UCITS compliant, which implies regulatory safeguards and transparency. No complex underlying assets such as contingent convertible bonds or CLOs are held. The index tracked is a broad, well-known equity index without complex derivatives embedded. The factsheet and documents do not indicate any complexity triggers such as capital protection, leverage, or significant counterparty risk. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}