{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Ultrashort Bond ESG UCITS ETF",
    "investment_objective": "To track the iBoxx MSCI ESG USD Liquid Investment Grade Ultrashort Index, investing primarily in US Dollar denominated, investment grade, ultrashort fixed income securities with ESG criteria.",
    "primary_asset_class": "Fixed Income (Bonds)",
    "geographic_focus": "United States (USD denominated bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income ETF that physically invests in a diversified portfolio of ultrashort investment grade corporate bonds screened for ESG criteria. The KIID and PRIIPs KID explicitly state the Fund uses physical replication with sampled methodology and only limited use of financial derivative instruments (FDIs) for direct investment purposes, not for synthetic replication. There is no mention of swap agreements, total return swaps, or unfunded/funded swap structures. The risk profile is low (category 2 out of 7), indicating low complexity. There is no leverage, inverse exposure, or capital protection features. The portfolio consists of liquid, investment grade bonds with short maturities and no complex structured products or contingent convertible bonds. The monthly factsheet confirms physical holdings with no indication of synthetic replication or significant derivative usage. Securities lending is conducted but does not increase costs and is disclosed transparently. No performance fees or complex fee structures are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF exhibits a straightforward, transparent, and linear investment strategy aligned with a low risk profile, supporting a non-complex classification under MiFID II."
}