{
    "complex": true,
    "leverage": true,
    "derivatives": true,
    "swaps": true,
    "inverse": true,
    "replication_method": "synthetic",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [
        "Leverage",
        "Inverse Exposure",
        "Synthetic Replication",
        "Daily Rebalancing",
        "Counterparty Risk"
    ],
    "classification": "complex",
    "supporting_data": "The Amundi FTSE MIB Daily (-2x) Inverse UCITS ETF Acc is classified as complex due to several key factors. The ETF employs synthetic replication through total return swaps, which introduces counterparty risk and requires understanding of derivative instruments. The fund's objective of providing -2x daily inverse leverage on the FTSE MIB Index adds significant complexity, as the performance is not linear over time and requires daily rebalancing. The use of unfunded swaps with counterparties like Morgan Stanley and Societe Generale further contributes to the complexity. Additionally, the ETF's risk profile is high, with a risk rating of 7 out of 7, and it includes warnings about potential significant tracking errors and the non-guarantee of initial capital. The combination of leverage, inverse exposure, and synthetic replication makes this ETF unsuitable for retail investors without specialized knowledge.",
    "confidence": 95,
    "risk_level": 7,
    "counterparty_risk": true,
    "tracking_error_risk": true,
    "liquidity_risk": true,
    "capital_protection": false,
    "structured_features": false,
    "illiquid_assets": false,
    "hard_to_value_assets": false,
    "contingent_bonds": false,
    "comprehension_warning": true
}