{
    "name": "Amundi S&P 500 ESG UCITS ETF - Acc",
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the S&P 500 ESG+ Index, investing directly in the underlying securities. While derivatives may be used for efficient portfolio management (EPM) and handling inflows/outflows, this is a standard practice and does not introduce complexity. The fund has a straightforward investment objective, low tracking error, and a clear risk profile. The absence of leverage, inverse strategies, or synthetic replication supports the non-complex classification. The UCITS compliance and transparent structure further reinforce this assessment.",
    "confidence": 95,
    "risk_level": "The risk level is moderate (level 4 on a 7-point scale), primarily reflecting market risk from US equities. There are no additional complexities such as counterparty risk from swaps or leverage.",
    "counterparty_risk": "Minimal, as derivatives are only used for EPM and not as a core strategy.",
    "benchmark_complexity": "The S&P 500 ESG+ Index is a transparent, market-cap-weighted index with clear sustainability criteria, making it easily understandable for retail investors."
}