{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Use of derivatives for limited swap exposure; physical replication; ESG screening",
    "classification": "non-complex",
    "supporting_data": "The Amundi STOXX Europe 600 Energy ESG Screened UCITS ETF is a UCITS-compliant ETF that primarily uses physical replication by investing directly in the securities comprising the STOXX Europe 600 Energy ESG+ Net Total Return Index. It may also invest in a diversified portfolio of international equities whose performance is exchanged against the index via financial derivative instruments (FDI), but this use is limited and aimed at efficient portfolio management (EPM) to minimize tracking error. The ETF does not employ synthetic replication or significant leverage. The derivatives used are not integral to the investment objective but serve risk management and tracking purposes, implying limited counterparty risk. The ETF tracks a transparent, market-cap weighted index with ESG screening, which is straightforward for retail investors to understand. The risk profile mainly reflects market risk typical of equity investments, without embedded complex features such as contingent convertible bonds or structured products. According to MiFID II Article 254, Delegated Regulation EU 2017/565 Article 57, and ESMA guidelines, such an ETF is presumed non-complex because it meets the criteria of physical replication, limited derivative use for EPM, transparent underlying index, and absence of leverage or embedded derivatives that would increase complexity. Therefore, no comprehension alert is required in the PRIIPs KID. This assessment aligns with regulatory interpretations that UCITS ETFs with physical replication and limited derivative use for EPM are non-complex, while synthetic ETFs or those with embedded derivatives or leverage would be complex. The ETF's use of derivatives does not automatically trigger complexity as they are not central to the investment strategy but used for hedging and tracking error minimization. The ESG screening does not add complexity under MiFID II criteria. Hence, the ETF is classified as non-complex."
}