{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The AMUNDI EURO STOXX 50 II UCITS ETF USD Hedged Acc is a UCITS-compliant ETF that uses physical replication or sampling techniques to track the EURO STOXX 50 Net Return Index, a transparent and well-known equity index. The ETF employs derivatives only for currency hedging (daily exchange hedging strategy) and possibly for efficient portfolio management, not as an integral part of its investment objective or synthetic replication. There is no indication of embedded derivatives, leverage beyond UCITS limits, or complex structured products such as CLOs. The ETF's structure, risks (market volatility, tracking error), and payoff are straightforward and understandable by retail investors with basic knowledge. The fund's risk profile reflects typical equity market risk, not structural complexity. Securities lending or other complex features are not materially present or dominant. According to MiFID II Article 25(4)(a)(iv) and Article 57 criteria, UCITS ETFs that physically replicate transparent indices and use derivatives only for hedging or EPM with minimal risk impact are classified as non-complex. This ETF meets these criteria and thus does not require an appropriateness assessment or comprehension alert under MiFID II. This assessment aligns with ESMA and CESR guidance that physical replication and limited derivative use for hedging do not trigger complexity, while synthetic replication or embedded derivatives would. Therefore, the ETF is classified as non-complex."
}