{
    "fund_name": "Amundi MSCI World II UCITS ETF Dist",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using swaps",
        "Counterparty risk exposure"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via total return swaps, which introduces counterparty risk and derivative exposure. While the underlying index (MSCI World) is straightforward, the use of swaps for replication triggers MiFID II complexity classification. The KIID explicitly mentions counterparty risk and derivative risks, which are key complexity indicators. The fact sheet confirms the use of OTC swaps with specific counterparties (Morgan Stanley, Societe Generale), further supporting the complex classification. The risk profile is rated 5/7, which is relatively high for a non-leveraged equity ETF, indicating additional risks beyond simple equity market exposure.",
    "confidence": 90
}