{
    "name": "AMUNDI EUR CORPORATE UCITS ETF USD Hedged 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 with sampled replication, which is a standard and non-complex method. Derivatives are only mentioned for managing inflows/outflows and better index exposure, not as a core strategy. The underlying assets are investment-grade corporate bonds, which are transparent and liquid. The risk profile is moderate (risk level 3-4), with no leverage, inverse exposure, or capital protection mechanisms. The ETF is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95,
    "counter_argument": "Some might argue that the use of derivatives for managing inflows/outflows could introduce complexity. However, this is a common practice in ETFs for efficient portfolio management (EPM) and does not materially alter the risk profile or require specialist knowledge to understand. The derivatives are not used for leverage or synthetic replication, which are key complexity triggers under MiFID II.",
    "risk_level": "The ETF has a moderate risk profile (level 3-4), primarily driven by market and credit risks associated with corporate bonds. There is no indication of complex risk structures or unlimited loss potential."
}