{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI S&P 500 CLIMATE NET ZERO AMBITION PAB UCITS ETF Acc",
    "investment_objective": "Track the performance of the S&P 500 Net Zero 2050 Paris-Aligned ESG+ Net Total Return Index with minimized tracking error",
    "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 physically replicating the S&P 500 Net Zero 2050 Paris-Aligned ESG+ Index, investing directly in underlying securities with a very low tracking error (~0.03%-0.04%). 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 efficient portfolio management and inflows/outflows, which does not trigger complexity. The fund has no leverage, inverse or amplified exposure. Risk rating is medium-high (5/7) reflecting market risk typical of equity ETFs, but no complex structured features or capital protection mechanisms are present. Costs are straightforward with a low ongoing charge (0.07%) and no performance fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication and direct investment in 274 US equities aligned with ESG and climate objectives. No complex underlying assets such as contingent convertible bonds or CLOs are held. Overall, the fund\u2019s structure and documentation indicate a straightforward, transparent, and physically replicated equity ETF without embedded complexity under MiFID II criteria."
}