{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI MSCI USA MEGA CAP UCITS ETF ACC",
    "investment_objective": "Track the performance of MSCI USA Mega Cap Select 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 uses direct physical replication by investing directly in transferable securities representing the index constituents in proportions close to the index. The KIID and PRIIPs KID confirm that derivatives may be used only for efficient portfolio management and to manage inflows/outflows, not as an inherent part of the investment strategy, so derivative use is minimal and risk-managing rather than structural. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal operational risk. The fund is UCITS compliant, with a low ongoing charge (0.15%) and no performance fees. The risk indicator is 5/7, reflecting market risk of US equities, but no complexity flags such as leverage, inverse exposure, capital protection, or complex underlying assets are present. The factsheet confirms physical replication and no use of swaps or synthetic structures. The index tracked is a straightforward large-cap US equity index without complex features. No capital protection or structured product features are mentioned. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for operational purposes only, and no leverage or complex underlying assets. Therefore, it does not meet MiFID II criteria for a complex financial instrument."
}