{
    "fund_name": "Amundi MSCI Semiconductors ESG Screened 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 exposure"
    ],
    "classification": "complex",
    "supporting_data": "The ETF uses synthetic replication via an OTC swap with Morgan Stanley Bank AG and Societe Generale, which introduces counterparty risk. While the swap is used for replication rather than leverage or inverse exposure, the presence of derivatives and counterparty risk makes this a complex product under MiFID II. The fact sheet confirms the use of swaps for replication, and the KIID highlights counterparty risk as a material risk factor. The index itself is straightforward (equity-focused), but the synthetic structure and counterparty exposure are key complexity indicators.",
    "confidence": 90
}