{
    "fund_name": "Amundi STOXX Europe 600 Banks UCITS ETF Acc",
    "type": "ETF",
    "ucits": true,
    "replication_method": "synthetic",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Synthetic replication using swaps",
        "Counterparty risk from derivative instruments",
        "Potential tracking error from indirect replication"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via an over-the-counter swap contract (FDI) to track the STOXX Europe 600 Banks index. While the index itself is relatively straightforward (equity-focused, no leverage), the use of derivatives introduces counterparty risk and potential tracking error. The KIID explicitly mentions 'risk of financial derivative instruments' and 'counterparty risk', which are key complexity indicators under MiFID II. The fact that it's UCITS-compliant doesn't automatically make it non-complex, as UCITS funds can still use complex structures. The risk profile (SRRI 4) is moderate, but the derivative usage and counterparty risk push it into the complex category.",
    "confidence": 85
}