{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "complex": false,
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthetic",
        "complex_factors": [
            "Swaps",
            "Counterparty Risk",
            "Collateral Risk",
            "Total Return Swaps"
        ],
        "classification": "complex",
        "supporting_data": "The Amundi MSCI India II UCITS ETF employs indirect replication through total return swaps. This use of OTC total return swaps is a primary indicator of complexity under MiFID II due to the inherent counterparty risk and collateral risk, which are difficult for retail investors to understand. While UCITS are generally presumed non-complex, the reliance on synthetic replication through derivatives for its core investment objective triggers a complex classification. The Key Investor Information Document explicitly mentions counterparty risk and risk related to the use of derivative instruments, reinforcing this assessment. The fact that it's a UCITS does not override the complexity introduced by the derivative-heavy replication strategy."
    }
}