{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi DAX III UCITS ETF Acc",
    "investment_objective": "Track the DAX Index via direct replication or sampling, minimizing tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Germany / European Union",
    "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 DAX Index, composed of 40 large German companies. The investment objective is to replicate the index performance via direct physical replication or sampling. The KIID and PRIIPs KID explicitly state the use of physical replication, with no mention of synthetic replication or swap agreements. The factsheet confirms physical replication and notes that counterparty risk arises only from securities lending programs, not from swap usage. There is no leverage, inverse exposure, or capital protection features. The risk level is medium-high (5/7) reflecting equity market risk, not complexity. Costs are straightforward with a low ongoing charge (0.15%) and no performance fees. No complex underlying assets such as contingent convertible bonds or CLOs are held. The index tracked is a transparent, rule-based equity index with no complex derivatives embedded. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index with minimal derivative use limited to risk management (securities lending), thus it is classified as non-complex under MiFID II."
}