{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The AMUNDI STOXX EUROPE DEFENSE UCITS ETF ACC is a UCITS-compliant ETF that aims to track the STOXX Europe Total Market Defense Capped Index, an equity index focused on European defense sector companies. The KIID explicitly states the fund is passively managed with the objective to minimize tracking error, indicating a straightforward index-tracking strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used for replication purposes. The replication method is consistent with physical or representative sampling, as no synthetic or swap language is present. The risk profile is moderate (risk level 4), reflecting typical equity market risk without elevated derivative or leverage risk. No leverage, inverse, or amplified return features are described. The risk disclosures mention counterparty risk, but this is standard operational risk and not linked to derivative counterparty exposure. Charges are simple, with no performance fees or swap-related fees. No capital protection or structured product features are present. The underlying assets are equities in the defense sector, which are liquid and transparent. No complex bonds, contingent convertible bonds, or structured products are held. The absence of derivative usage for replication or leverage, combined with a clear, linear index-tracking objective and UCITS compliance, supports a non-complex classification under MiFID II. No PRIIPs comprehension warnings or additional complexity indicators were identified. Therefore, the ETF is classified as non-complex."
}