{
    "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 MSCI China UCITS ETF Acc uses indirect replication via an over-the-counter swap contract (FDI) to track the MSCI China Net Total Return USD Index. This synthetic replication method, which relies on derivatives to achieve its investment objective, introduces risks such as counterparty risk and collateral risk, which are considered difficult for retail investors to understand. According to MiFID II regulations and ESMA guidelines, the use of derivatives as an integral part of the investment strategy, as is the case with synthetic replication, generally classifies an ETF as complex. The document explicitly states that 'synthetic replication uses derivatives (e.g., total return swaps) to replicate the index's performance without holding the underlying securities. This introduces opacity... and risks (counterparty, collateral), making it complex.'"
    }
}