{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI USA UCITS ETF DIST",
    "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 fund that physically replicates the MSCI USA Index by direct investment in underlying securities in proportions closely matching the index. 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 does not employ leverage, inverse or amplified exposure. The risk profile is medium-high (5/7) reflecting market risk typical of equity investments, but no additional complexity risks such as counterparty risk from swaps or capital protection features are present. Costs are straightforward with a low ongoing charge (0.03%) and no performance fees. The PRIIPs KID and factsheet confirm physical replication, no synthetic elements, and no complex underlying assets. There are no capital protection or structured features. The fund invests in liquid, transparent large and mid-cap US equities, with no exposure to complex bonds or structured products. No complexity flags such as contingent convertible bonds, leverage, or swap usage are identified. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}