{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [],
        "classification": "non-complex",
        "supporting_data": "The Amundi MSCI Japan UCITS ETF GBP Hedged Acc is an ETF that aims to reflect the performance of the MSCI Japan Net Total Return Index. It uses a direct replication strategy, investing primarily in the securities comprising the index, with the possibility of using a sampling replication strategy. The ETF explicitly states that it aims to reflect the index's performance, which is a characteristic of a non-complex instrument. It also mentions a daily hedging strategy for GBP currency risk, which is a common practice for managing currency exposure and not indicative of inherent complexity in the ETF's structure. The KIID highlights 'Market volatility' and 'tracking error' as risks, which are standard for index-tracking ETFs and do not imply complexity. Importantly, it does not mention the use of derivatives for the investment objective itself, nor does it indicate any complex underlying instruments. The document also clearly states it is a UCITS ETF. Based on the principles of MiFID II and the provided documentation, the ETF is presumed non-complex due to its passive, physical replication strategy tracking a standard index. The currency hedging is a risk management tool, not a core complexity driver. There is no indication of embedded derivatives, leverage, or complex underlying assets that would make it difficult for a retail investor to understand."
    }
}