{
    "fund_name": "AMUNDI ETF DAX UCITS ETF DR",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the DAX NET RETURN INDEX, with no mention of synthetic replication, swaps, or derivatives beyond potential forward financial instruments for hedging/exposure (which are not inherently complex). The fund's risk profile (SRRI 3) and straightforward equity exposure to large-cap German stocks suggest it is easily understandable by retail investors. The KIID and factsheet confirm no leverage, inverse strategies, or complex structured features. The only potential complexity indicator would be the use of forward financial instruments, but these are likely for efficient portfolio management rather than creating additional risk. The fund's UCITS compliance and transparent equity exposure further support the non-complex classification.",
    "confidence": 95
}