{
    "fund_name": "Amundi MSCI World SRI Climate Net Zero Ambition PAB UCITS ETF Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Complex index (MSCI World SRI Filtered PAB NR)",
        "ESG and climate transition reweighting criteria",
        "Potential for tracking error beyond 1%"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI World SRI Filtered PAB NR Index, which is a complex index with ESG and climate transition criteria. However, the fund itself does not use derivatives, swaps, or leverage. The tracking error is capped at 1%, and the fund is UCITS-compliant. The complexity of the underlying index does not automatically make the ETF complex under MiFID II, as the fund's structure remains straightforward and transparent. The use of physical replication and the absence of derivative instruments for investment purposes (only for risk management) support the non-complex classification.",
    "confidence": 90
}