{
    "fund_name": "AMUNDI GLOBAL EMERGING BOND MARKIT IBOXX UCITS ETF Dist",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "replication_method": "physical",
    "complex_factors": [
        "Emerging market sovereign bonds",
        "Potential for illiquidity in underlying assets",
        "Counterparty risk in securities lending operations"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Markit iBoxx USD Liquid Emerging Markets Sovereigns Index, with no leverage, inverse exposure, or synthetic replication via swaps. While it may use derivatives for efficient portfolio management (e.g., managing inflows/outflows), the primary strategy is direct investment in underlying bonds. The index itself is not inherently complex, and the ETF's risk profile aligns with typical emerging market bond exposures. The use of securities lending for additional income is disclosed but does not materially alter the fund's risk profile. The KIID and factsheet confirm no structured products, capital protection, or barrier options. The SRRI (risk level) is consistent with emerging market bond funds, and the ETF is UCITS-compliant, indicating regulatory alignment with retail investor suitability. The absence of leverage, inverse strategies, or synthetic replication, combined with transparent physical replication, supports a non-complex classification.",
    "confidence": 90
}