{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI INDEX MSCI EMERGING MARKETS UCITS ETF DR -USD",
    "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 Net Total Return Index through direct physical replication by investing directly in the underlying securities. The KIID and PRIIPs KID explicitly state the use of physical replication with derivatives only used marginally for managing inflows/outflows or to improve exposure to index constituents, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or funded/unfunded swaps. The fund does not employ leverage, inverse or amplified exposure. The risk profile is medium (4 out of 7), reflecting market risk typical of emerging market equities, with no capital protection or structured features. Costs are straightforward with a low ongoing charge of 0.18%, no performance fees, and no complex fee structures. The factsheet confirms physical replication, no use of swaps, and a low tracking error (~0.16% to 0.98%), indicating a simple, transparent structure. 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 does not increase complexity under MiFID II. There are no complexity flags such as capital protection, leverage, or significant counterparty risk. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the ETF exhibits a straightforward, linear exposure to a well-known equity index with minimal derivative use for operational purposes only, qualifying it as non-complex under MiFID II."
}