{
    "success": true,
    "data": {
        "complex": true,
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": true,
        "replication_method": "synthethic",
        "ucits": true,
        "type": "ETF",
        "complex_factors": [
            "Inverse index tracking (daily rebalancing)",
            "Use of total return swaps (derivatives)",
            "Potential for performance to move in the same direction as the parent index over time periods longer than one day."
        ],
        "classification": "complex",
        "supporting_data": "The ETF, Amundi EURO STOXX 50 Daily (-1x) Inverse UCITS ETF, is designed to deliver an inverse exposure to the EURO STOXX 50 index. Its investment policy explicitly states that it achieves this objective through indirect replication,namely by entering into one or more over - the - counter total return swaps. This reliance on derivatives, swaps in this case, to achieve its inverse index tracking objective, introduces counterparty risk, and collateral risk. These are significant complex factors that arent easily understood by retail investors with basic knowledge. While the risk category is lower risk, the specific investment strategy and use of swaps to achieve that strategy are critical elements in the complexity determination. The fact that the ETFs performance will not perfectly invert the parent index over periods longer than a day, due to the daily rebalancing of the benchmark index, further complicates the expected performance. This is in contradistinction to a traditional physical replication approach, making it complex by MiFID II standards. Even though it is a UCITS ETF, the complex strategy and derivatives usage override the presumption of non-complexity."
    }
}