{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI GLOBAL EMERGING BOND MARKIT IBOXX UCITS ETF DR - USD",
    "investment_objective": "Track the performance of Markit iBoxx USD Liquid Emerging Markets Sovereigns Index with minimized tracking error",
    "primary_asset_class": "Bond",
    "geographic_focus": "Emerging Markets (USD-denominated sovereign bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF tracking a USD emerging markets sovereign bond index. It uses a physical replication method with sampled replication, investing directly in transferable securities closely representing the index constituents. The KIID and PRIIPs KID confirm that derivatives may be used only for efficient portfolio management (e.g., managing inflows/outflows or better exposure), not as an inherent part of the investment strategy, so derivatives are not considered a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal operational risk. The fund does not employ leverage, inverse or amplified exposure. The risk rating is moderate (3/7), consistent with bond market risk but not indicating complexity. Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication and no use of synthetic structures or leverage. The underlying assets are USD sovereign bonds from emerging markets, which are liquid and transparent, though with typical emerging market risks. There are no capital protection or structured product features. No complex bonds such as contingent convertibles or CLOs are held. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}