{
    "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 Highest Rated Macro-Weighted Government Bond UCITS ETF is a UCITS-compliant ETF that tracks a transparent, well-documented eurozone government bond index using physical replication (direct investment in underlying securities). It may use securities lending as a secondary technique, which is permitted under UCITS rules and does not automatically trigger complexity. There is no indication of embedded derivatives integral to the investment objective, synthetic replication, leverage beyond UCITS limits, or complex structured products such as CLOs. The ETF's structure and risks (market risk, tracking error) are straightforward and understandable by retail investors with basic knowledge. According to MiFID II Article 25(4)(a)(iv) and Article 57 criteria, UCITS ETFs that physically replicate transparent indices and do not embed derivatives or complex features are classified as non-complex. The ETF does not embed derivatives as part of its strategy but may use derivatives only for efficient portfolio management, which does not trigger complexity. The risk profile reflects market risk typical of government bonds, not structural complexity. Therefore, under MiFID II and ESMA guidelines, this ETF is classified as non-complex."
}