{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "replication_method": "synthetic",
        "derivatives": true,
        "swaps": true,
        "leverage": false,
        "inverse": false,
        "complex_factors": [
            "Swaps",
            "Counterparty risk",
            "Emerging Markets risk"
        ],
        "classification": "complex",
        "supporting_data": "The Amundi MSCI Emerging Markets II UCITS ETF Acc uses indirect replication via an over-the-counter swap contract (a financial derivative instrument). This inherently introduces counterparty risk and collateral risk, which are considered complex for retail investors. While it tracks a well-known index, the reliance on derivatives for replication is a key factor in classifying it as complex under MiFID II. The KIID also highlights 'Emerging Markets risk', which, while market-related, contributes to the overall risk profile that requires careful consideration. The use of derivatives for replication is explicitly called out in MiFID II guidance as a factor leading to complexity."
    }
}