{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2025 Term $ CorpUSD (Acc) Share Class",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI December 2025 Maturity USD Corporate ESG Screened Index through a combination of capital growth and income.",
    "primary_asset_class": "Fixed Income (Investment Grade USD Corporate Bonds)",
    "geographic_focus": "Primarily US Dollar denominated corporate bonds",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing in a diversified portfolio of investment grade, fixed rate USD corporate bonds maturing in 2025, tracking the Bloomberg MSCI December 2025 Maturity USD Corporate ESG Screened Index. The Fund uses a sampled physical replication method and may use financial derivative instruments (FDIs) only for direct investment purposes, not as an inherent part of the strategy, thus derivatives are not considered a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The Fund is not leveraged, inverse, or amplified in returns. The risk indicator is low (2 out of 7 in PRIIPs KID, 3 in KIID), consistent with a straightforward fixed income ETF. The Fund does engage in securities lending, but this is a common practice and does not add complexity under MiFID II. The underlying assets are liquid, investment grade corporate bonds without contingent convertible bonds or complex structured products. There are no capital protection or structured features. Costs are simple with a low ongoing charge (0.12%) and no performance fees. The Fund is a defined term fund maturing in 2025, which is clearly disclosed. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical sampling replication and no use of swaps or synthetic structures. Overall, the Fund exhibits none of the complexity indicators under MiFID II and is therefore classified as non-complex."
}