{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Derivative use for currency hedging, but not central to strategy; no embedded derivatives, no leverage, no swaps, no complex indices, no contingent convertible bonds, no structured products, no opaque features",
    "supporting_data": "The Amundi Global Aggregate Green Bond 1-10Y UCITS ETF GBP Hedged Dist is a UCITS-compliant, physically replicated ETF tracking a transparent, diversified green bond index. It uses derivatives solely for efficient portfolio management (EPM)u2014specifically, a daily currency hedging strategy to mitigate GBP/EUR exchange rate risk. The ETF does not use swaps, leverage beyond UCITS limits, or synthetic replication. The underlying index is straightforward, consisting of investment-grade green bonds with clear eligibility criteria. Securities lending is permitted but is a secondary, well-managed feature within UCITS rules. The risk profile reflects market risk from international bonds, not structural complexity. All costs, holdings, and risks are transparently disclosed. The use of derivatives is limited to hedging and does not introduce material counterparty or collateral risk, nor does it make the ETF's payoff or structure difficult for a retail investor to understand. There are no embedded derivatives, complex payout triggers, or contingent features. The ETF's structure, risks, and objectives are easily comprehensible to a retail investor with basic knowledge.",
    "classification": "non-complex"
}