{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc",
    "investment_objective": "Track the S&P Eurozone LargeMidCap Net Zero 2050 Paris-Aligned ESG Net Total Return Index with minimized tracking error",
    "primary_asset_class": "Equity",
    "geographic_focus": "Eurozone",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically replicating the S&P Eurozone LargeMidCap Net Zero 2050 Paris-Aligned ESG Net Total Return Index primarily through direct investment in underlying equities. The KIID and PRIIPs KID explicitly state the use of physical replication with possible sampling to optimize replication, but no mention of synthetic replication, swap agreements, or derivative instruments as part of the core strategy. The factsheet confirms physical replication and notes counterparty risk only in relation to securities lending programs, which is common and not indicative of synthetic replication. There is no leverage, inverse exposure, or capital protection features. The risk profile is medium-high (5/7) reflecting equity market risk, not complexity from derivatives or leverage. Costs are straightforward with a 0.20% ongoing charge and no performance fees or swap fees. The benchmark index is ESG and climate-aligned but does not involve complex structured products or contingent bonds. No references to complex derivatives, swaps, or contingent convertible bonds were found. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance via physical equity holdings, with minimal derivative use only for risk management (securities lending). Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}