{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi MSCI EMU UCITS ETF Dist",
    "investment_objective": "Track the MSCI EMU Net Return EUR Index via direct or sampling replication",
    "primary_asset_class": "Equity",
    "geographic_focus": "Eurozone developed markets",
    "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 ETF tracking the MSCI EMU Net Return EUR Index, primarily investing in large and mid-cap Eurozone equities. The KIID and PRIIPs documents confirm the fund uses direct physical replication or sampling strategies, with no mention of synthetic replication, swap agreements, or derivative instruments as part of the core strategy. The factsheet explicitly states 'Replication type: Physical' and no leverage or inverse exposure is indicated. The risk rating is moderate (4/7), consistent with equity market risk, without additional complexity flags such as capital protection or structured features. Counterparty risk is limited to securities lending programs, which is common and does not imply synthetic replication. Costs are straightforward with a low ongoing charge (0.12%) and no performance fees or swap fees. There is no indication of complex underlying assets such as contingent convertible bonds or CLOs. The benchmark index is a standard MSCI equity index without complex derivatives embedded. Therefore, the ETF does not meet MiFID II criteria for a complex financial instrument."
}