{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI ITALY MIB ESG - UCITS ETF DR - EUR",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF tracking the MIB ESG Index, which represents the top 40 ESG-rated Italian companies from the most liquid 60 on Euronext Milan. The replication method is direct physical replication, investing mainly in the underlying securities in proportions closely matching the index. The KIID and PRIIPs KID confirm that derivatives may be used only for managing inflows/outflows or to gain better exposure to index constituents, not as an inherent part of the investment strategy, thus derivatives usage is incidental and not structural. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium-high (5/7) reflecting market risk of European equities, not complexity from structure. Costs are straightforward with a low ongoing charge (0.18%) and no performance fees. Securities lending is used to generate additional income but does not imply complexity. The factsheet confirms physical replication and no use of swaps or synthetic structures. No capital protection or structured features are present. There are no complexity flags such as capital guarantees, barrier options, or complex derivative strategies. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for operational efficiency only. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}