{
    "name": "AMUNDI MSCI USA MEGA CAP UCITS ETF ACC",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI USA Mega Cap Select Index, with direct investments 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 ongoing charges (0.15%), and a clear risk profile (SRRI 4). There are no indications of leverage, inverse strategies, or synthetic replication. The underlying assets are liquid, large-cap U.S. equities, and the fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95,
    "risk_level": 4,
    "counter_argument": "Some might argue that the use of derivatives for EPM could introduce complexity. However, under MiFID II, derivatives used solely for EPM and not as a core strategy do not typically classify an ETF as complex. The fund's transparency, liquidity, and straightforward replication method outweigh this concern."
}