{
    "fund_name": "AMUNDI EURO HIGH YIELD BOND ESG UCITS ETF Dist",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "High yield bonds (BB/B rated)",
        "Potential use of derivatives for efficient portfolio management (not for leverage or inverse exposure)",
        "Sampled replication (not full replication)"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication (direct investment in underlying securities) and does not employ leverage, inverse strategies, or synthetic replication. While it may use derivatives for efficient portfolio management (e.g., managing inflows/outflows), this does not trigger complexity under MiFID II. The underlying index (iBoxx MSCI ESG EUR High Yield Corporates TCA) consists of high-yield corporate bonds, which are not inherently complex. The risk profile (risk level 4) is clearly disclosed, and the ETF is UCITS-compliant, indicating regulatory suitability for retail investors. The absence of capital protection, structured features, or contingent bonds further supports the non-complex classification.",
    "confidence": 90
}