{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": true,
        "swaps": true,
        "inverse": false,
        "replication_method": "synthethic",
        "complex_factors": "Synthetic replication using a total return swap. The ETF's structure introduces counterparty and collateral risk, making it difficult for retail investors to understand.",
        "classification": "complex",
        "supporting_data": "The AMUNDI MSCI INDIA UCITS ETF - USD uses an indirect replication methodology, specifically a total return swap. This means the ETF doesn't hold the actual underlying assets (MSCI India Index) but instead relies on a derivative (the swap) to replicate the index's performance. This instantly flags the ETF as complex under MiFID II. The use of a derivative and the indirect nature of the replication significantly increase the risk for the investor, a retail investor, who will find it hard to understand the risks linked to the use of a swap."
    }
}