{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2032 Term $ Corp UCITS ETF",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI December 2032 Maturity USD Corporate ESG Screened Index through capital growth and income",
    "primary_asset_class": "Fixed Income (Investment Grade USD Corporate Bonds)",
    "geographic_sector_focus": "US Dollar denominated corporate bonds with ESG screening, maturing in December 2032",
    "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 holds a sampled portfolio of investment grade USD corporate bonds maturing in December 2032, tracking an ESG screened Bloomberg MSCI index. The KIID and PRIIPs KID confirm the fund uses physical replication with sampled holdings rather than synthetic replication or swap-based structures. The fund may use financial derivative instruments (FDIs) only for efficient portfolio management or hedging, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk indicator is moderate (3 out of 7), consistent with investment grade bond risk, and no capital protection or structured features are present. The fund engages in securities lending, but this does not increase complexity under MiFID II. No references to contingent convertible bonds, complex structured products, or significant counterparty risk beyond normal custody and securities lending counterparty risk are found. The fund\u2019s sampled physical replication and straightforward fixed income strategy with a clear linear relationship to the underlying index support a non-complex classification under MiFID II."
}