{
    "fund_name": "Amundi EUR Corporate Bond ex-Financials ESG UCITS ETF Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Use of OTC swaps for securities lending",
        "Potential counterparty risk from swap agreements",
        "Complex ESG index methodology"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication to track the Bloomberg Barclays MSCI EUR Corporate Liquid ex Financial SRI Sustainable Index. While it does use OTC swaps for securities lending (which is common in bond ETFs for liquidity management), this is not the primary replication method and does not create leverage or inverse exposure. The swap exposure is limited to 10% of fund assets per UCITS rules. The ESG index methodology is complex but does not make the ETF itself complex under MiFID II standards. The fund's risk profile (SRRI 3) is relatively low, and the use of derivatives is for efficient portfolio management rather than creating additional complexity. The fact that it's UCITS-compliant and physically replicated are strong indicators of non-complex status.",
    "confidence": 85
}