{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR Bloomberg SASB U.S. High Yield Corporate ESG UCITS ETF",
    "investment_objective": "Track the performance of the Bloomberg SASB US Corporate High Yield ESG Ex-Controversies Select Index, a fixed-rate, U.S. dollar-denominated high yield corporate bond market index with ESG screening.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Primarily United States (82.72%), with some exposure to UK, Italy, Canada, Germany, and others.",
    "replication_method": "physical",
    "derivatives": false,
    "swaps": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF investing primarily in fixed-rate, U.S. dollar-denominated high yield corporate bonds. It uses a stratified sampling physical replication method to track the Bloomberg SASB US Corporate High Yield ESG Ex-Controversies Select Index. The KIID and PRIIPs KID documents confirm that derivatives may be used only for efficient portfolio management, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk. The fund does not engage in securities lending. The fact sheet confirms physical holdings of 587 bonds with no indication of synthetic or swap-based replication. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate (category 3-4), consistent with a bond ETF investing in high yield bonds. Costs are straightforward with a TER of 0.30%, no performance fees, and no swap or derivative fees. No complexity flags such as contingent convertible bonds or structured products are mentioned. The PRIIPs KID does not carry any comprehension warnings. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}