{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Corp Bond ex-Financials UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the Bloomberg Euro Corporate ex-Financials Bond Index by investing primarily in euro-denominated investment grade corporate bonds issued by industrial and utility companies, excluding financial issuers. The fund uses physical replication with sampled methodology, investing directly in underlying bonds rather than synthetic replication or swaps. The KIID and PRIIPs KID confirm the use of financial derivative instruments only potentially for direct investment purposes or risk management, but no indication that derivatives are an inherent part of the strategy. There is no leverage, inverse or amplified exposure. The risk indicator is low (2 out of 7 in PRIIPs KID, 4 in KIID which is moderate but not high), consistent with a straightforward bond ETF. The fund engages in short-term securities lending, but this does not increase complexity under MiFID II. No capital protection or structured features are present. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and a broad diversified portfolio of over 2,200 bonds. No complex underlying assets such as contingent convertible bonds or CLOs are mentioned. Costs are simple with a TER of 0.20%, no performance fees, and no swap or derivative fees. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the fund exhibits a clear, linear relationship to the underlying index and invests directly in liquid, transparent securities, meeting the criteria for non-complex classification under MiFID II."
}