{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Synthetic replication using total return swaps; Counterparty risk.",
        "classification": "complex",
        "supporting_data": "The AMUNDI ETF STOXX EUROPE 50 UCITS ETF uses a total return swap for index replication. This, along with the presence of counterparty risk, is a key factor driving the complex classification. The KID document states 'To track the Index, the UCITS swaps the performance of the assets held by the Fund for that of the Index through a derivative contract or total return swap (a TRS derivative instrument) (Swap-based replication of the Index).' According to the MiFID II assessment rules, the use of swaps and, more specifically, synthetic replication makes the asset complex as it introduces opacity and counterparty risk that may not be easily understood by retail investors. Because of swap usage and the way the ETF's structure and risks are designed to achieve its objectives, the ETF is complex."
    }
}