{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi Stoxx Europe Select Dividend 30 - UCITS ETF DIST",
    "investment_objective": "Track the performance of STOXX Europe Select Dividend 30 Index with minimized tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Europe",
    "replication_method": "synthetic",
    "swaps": true,
    "derivatives": true,
    "leverage": false,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication via total return swaps",
        "Counterparty risk exposure",
        "Use of derivatives integral to strategy"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses an indirect replication method by investing in a total return swap (financial derivative instrument) to achieve exposure to the STOXX Europe Select Dividend 30 Index. This synthetic replication approach inherently involves counterparty risk, as explicitly disclosed in the KIID and PRIIPs KID documents. The fund is UCITS compliant but derivatives are integral to the investment strategy rather than used solely for risk management, which means 'derivatives' is marked true. There is no leverage or inverse exposure. The risk profile is medium-high (5 out of 7), reflecting market and counterparty risks. The fund invests in a complex equity index focusing on high dividend-paying European companies, but the key complexity driver is the synthetic replication via total return swaps. The factsheet confirms the replication type as 'synthetical' and the use of swaps. No capital protection or structured features are present. Costs are straightforward with no performance fees, but swap-related costs are implicit. The PRIIPs KID does not carry a specific comprehension warning but the use of swaps and counterparty risk disclosures align with MiFID II complexity criteria. Therefore, despite a straightforward equity index objective, the synthetic replication and swap usage classify this ETF as complex under MiFID II."
}