{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "synthetic",
        "derivatives": true,
        "swaps": true,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "Swaps",
            "Counterparty Risk",
            "Collateral Risk"
        ],
        "classification": "complex",
        "supporting_data": "The Amundi Smart Overnight Return UCITS ETF USD Hedged Acc uses an Indirect Replication methodology employing financial derivative instruments, specifically mentioning 'total return swap' and 'currency forwards and currency swaps transactions' for hedging. The document explicitly states that the Sub-Fund invests in financial derivative instruments and that these can induce various risks, including counterparty risk and the risk of financial derivative instruments. The use of total return swaps for replication, as indicated by the indirect replication methodology and the specific mention of swaps, directly triggers a 'complex' classification under MiFID II rules due to the inherent complexities and associated risks (counterparty, collateral) that are difficult for retail investors to understand. The document also mentions currency hedging strategies using these instruments. While the Benchmark Index (u20acSTR compounded rate, or SOFR as stated in a later sentence) is a short-term interest rate, the ETF's strategy to replicate it involves derivatives, making it complex."
    }
}