{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi STOXX Europe 600 Energy ESG Screened UCITS ETF Acc",
    "investment_objective": "Track the STOXX Europe 600 Energy ESG+ Net Total Return Index with minimized tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Europe (Developed Markets)",
    "replication_method": "physical",
    "swaps": true,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Use of unfunded swaps for efficient portfolio management",
    "classification": "complex",
    "supporting_data": "The ETF primarily uses physical replication by directly investing in the securities comprising the STOXX Europe 600 Energy ESG+ Index. However, the KIID and PRIIPs documents explicitly state that the Fund may also invest in a diversified portfolio of international equities whose performance is exchanged against the Index via financial derivative instruments (FDI), specifically mentioning the use of swaps. The KIID mentions counterparty risk and derivative-related risks, indicating the presence of unfunded swap agreements. The derivatives are used not as the main investment strategy but for efficient portfolio management and to manage inflows/outflows. Despite this, the presence of swap agreements and counterparty risk exposure triggers MiFID II complexity classification. There is no leverage or inverse exposure, and the replication is predominantly physical. The risk profile is medium-high (5/7), reflecting market and derivative risks. Costs are straightforward with no performance fees, but swap-related risks and counterparty exposure remain. The PRIIPs KID does not contain a comprehension warning but shows a medium-high risk level and derivative usage disclosures. The underlying assets are liquid European equities with ESG screening, no complex structured products or contingent bonds are held. Overall, the use of swaps and counterparty risk exposure, even if limited and for efficient management, leads to a classification of 'complex' under MiFID II rules."
}