{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "Emerging Market High Yield Bonds, Illiquidity, Credit Risk",
    "classification": "non-complex",
    "supporting_data": "The CO Eurizon SLJ EM Bond Strategic Income UCITS ETF is a UCITS-compliant ETF investing primarily in emerging market bonds, including below investment grade and unrated debt securities. The fund is actively managed with no benchmark and invests directly in a diversified portfolio of physical debt securities such as fixed income bonds, floating rate bonds, and commercial paper. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used for replication purposes. The risk disclosures mention currency hedging derivatives may be used, but only for managing currency exposure, not as an inherent part of the investment strategy, so derivatives are considered false for complexity. There is no leverage, inverse or amplified exposure indicated. The risk level is moderate (rated 4), reflecting credit risk, liquidity risk, and emerging market risk, but not complexity from structural features or derivative usage. No capital protection or structured features are present. Charges are straightforward with no performance fees or swap fees. The fund\u2019s complexity arises mainly from the underlying asset class (emerging market high yield bonds) which are less liquid and more volatile, but the ETF itself uses physical replication and does not employ complex derivative strategies. Therefore, under MiFID II, this ETF is classified as non-complex."
}