{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI INDEX MSCI EMERGING MARKETS UCITS ETF DR",
    "investment_objective": "Track the performance of MSCI Emerging Markets Index with minimized tracking error",
    "primary_asset_class": "equity",
    "geographic_focus": "Emerging Markets (23 countries)",
    "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 Emerging Markets Index via direct physical replication, investing mainly in transferable securities 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, thus derivatives exposure is minimal and not complexity-driving. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal market risk. Leverage or inverse exposure is absent. The risk rating is moderate (4/7), reflecting market risk typical of emerging market equities, not complexity. The fund does not have capital protection or structured features. Costs are straightforward with a low ongoing charge (0.18%) and no performance fees. The factsheet confirms physical replication, no use of swaps, and a simple equity index strategy. No complex underlying assets such as contingent convertible bonds or CLOs are held. The fund uses securities lending to generate additional income, which is common and not a complexity factor under MiFID II. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance with minimal derivative use for risk management only, no leverage, and no complex features, leading to a non-complex classification under MiFID II."
}