{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers USD High Yield Corporate Bond Screened UCITS ETF",
    "investment_objective": "To reflect the performance of the Bloomberg MSCI US High Yield Sustainable and SRI Index, which tracks USD denominated high yield fixed-rate corporate bonds with ESG screening.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Primarily US and non-US issuers of USD denominated corporate bonds",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the Bloomberg MSCI US High Yield Sustainable and SRI Index by directly purchasing a portfolio of USD denominated high yield corporate bonds that meet ESG criteria. The factsheet explicitly states 'Direct Replication (physically)' and there is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage or inverse exposure. The risk profile is moderate (risk category 3-4), consistent with bond market risk but not indicative of complexity. The fund invests in non-investment grade bonds, which carry credit risk and market volatility, but these are straightforward fixed income securities, not complex structured products or contingent convertible bonds. No capital protection or structured features are present. Costs are simple with a single ongoing charge of 0.25% and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund's strategy and structure are transparent and linear, with minimal derivative use solely for efficient portfolio management, physical replication, and no leverage or synthetic elements. Therefore, it is classified as non-complex under MiFID II."
}