{
    "fund_name": "AMUNDI INDEX MSCI EMERGING MARKETS UCITS ETF DR -USD",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Physical replication with minimal derivative usage",
        "Transparent index tracking strategy",
        "Liquid underlying assets (emerging market equities)"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the MSCI Emerging Markets Index, with direct investments in underlying securities. While it mentions the potential use of derivatives for managing inflows/outflows and exposure to index constituents, this appears to be for efficient portfolio management rather than a core strategy. There is no leverage, inverse exposure, or complex structured features. The risk profile is clearly disclosed as reflecting market risk from emerging market equities, with no additional complexity from derivatives or structured products. The UCITS compliance and transparent index tracking further support the non-complex classification.",
    "confidence": 95
}