{
    "fund_name": "Amundi EURO STOXX 50 Daily (-1x) Inverse UCITS ETF Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": true,
    "inverse": true,
    "derivatives": true,
    "swaps": true,
    "complex_factors": [
        "Inverse exposure with daily rebalancing",
        "Synthetic replication using total return swaps",
        "Counterparty risk exposure",
        "Complex index tracking (EURO STOXX 50 Daily Short strategy index)",
        "Potential for performance divergence over time due to daily rebalancing"
    ],
    "classification": "complex",
    "supporting_data": "The ETF is classified as complex under MiFID II due to several key factors: 1) It uses synthetic replication through total return swaps, which introduces counterparty risk; 2) It provides inverse exposure with daily rebalancing, which creates a complex relationship between the fund's performance and the underlying index; 3) The underlying index itself is complex (EURO STOXX 50 Daily Short strategy index); 4) The KIID explicitly mentions that the fund may not be suitable for investors who plan to withdraw their money within 1 day, indicating complexity; 5) The fact sheet confirms the use of OTC swaps with specific counterparties (Morgan Stanley, Societe Generale). While the fund is UCITS compliant and has a relatively low TER (0.40%), these factors collectively make it complex under MiFID II regulations.",
    "risk_level": "High (Risk category 6/7 in KIID)",
    "confidence": 95
}