{
    "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 EUR Hedged Dist is a UCITS ETF that aims to track the MSCI Japan Net Total Return Index using direct replication, investing primarily in securities within the index. It also employs a daily hedging strategy for EUR currency risk. The ETF is passively managed, and its investment objective is to mirror the index's performance while minimizing tracking error. The document explicitly states that UCITS are presumed non-complex. The use of derivatives is limited to currency hedging, which is for efficient portfolio management and does not form the core of the investment strategy. The replication method is physical. The risks highlighted (counterparty risk, hedging risk, risk of financial derivative instruments) are standard for many financial products, and the document also notes that the 'risk level' reflects market positions and flexibility, not necessarily structural complexity. The KID itself falls under UCITS regulations, which generally imply a non-complex status unless specific features dictate otherwise. There's no mention of embedded derivatives, leverage beyond normal operational needs, or complex underlying assets that would complicate understanding for a retail investor."
    }
}