{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi MSCI EMU Value Factor UCITS ETF Dist",
    "investment_objective": "Track the MSCI EMU Value Net Return EUR Index with minimized tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "European Economic and Monetary Union (EMU)",
    "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 EMU Value Index via direct physical replication or representative sampling. 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 related to cash flows, which does not trigger complexity. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are large and mid-cap European equities, liquid and transparent. Risk indicators show a moderate risk level (5/7 in PRIIPs), consistent with equity market risk, without additional complexity flags such as capital protection or structured features. Costs are straightforward with a single ongoing charge of 0.40%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with no complex underlying assets or capital protection mechanisms. Therefore, under MiFID II, this ETF is classified as non-complex."
}