{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI USA UCITS ETF ACC",
    "investment_objective": "Track the performance of the MSCI USA Index, a large and mid-cap US equity index",
    "primary_asset_class": "equity",
    "geographic_focus": "United States",
    "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 tracking the MSCI USA Index via physical replication, mainly by direct investments in transferable securities closely matching the index constituents. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only limited use of derivatives for operational purposes such as managing inflows/outflows or minor index exposure adjustments, which does not trigger complexity. The fund has no leverage or inverse exposure. The risk indicator is medium-high (5/7) reflecting market risk typical of equity investments, not complexity. Costs are minimal and straightforward with no performance fees or swap fees. The index tracked is a standard large and mid-cap US equity index with no complex structured products or contingent bonds involved. The factsheet confirms physical replication and no synthetic or swap-based strategy. No capital protection or structured features are present. No significant counterparty risk or complex derivative risk disclosures are noted. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance and invests directly in liquid, transparent securities, making it non-complex under MiFID II criteria."
}