{
    "fund_name": "AMUNDI RUSSELL 2000 UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using total return swaps",
        "Counterparty risk exposure",
        "Indirect replication methodology"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via total return swaps, which is a key complexity indicator under MiFID II. The KIID explicitly states that derivatives are integral to the investment strategy, and the indirect replication methodology involves counterparty risk. While the underlying index (Russell 2000) is straightforward, the use of swaps for replication triggers the 'complex' classification. The PRIIPs KID and factsheet confirm the synthetic nature and swap usage, reinforcing the complexity determination. The risk profile mentions counterparty risk, which is another complexity factor. The ETF is UCITS-compliant, but synthetic replication with swaps typically qualifies as complex under MiFID II.",
    "confidence": 90
}