{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global High Yield Corp Bond UCITS",
    "investment_objective": "To track the Markit iBoxx Global Developed Markets Liquid High Yield Capped Index by investing primarily in fixed income securities (high yield corporate bonds) that make up the index or provide similar performance.",
    "primary_asset_class": "Fixed Income (High Yield Corporate Bonds)",
    "geographic_focus": "Global Developed Markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing in a diversified portfolio of high yield corporate bonds from developed markets. The KIID and PRIIPs KID confirm the use of physical replication with sampled methodology, not synthetic replication. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes and currency hedging (FX forwards), but these are not inherent to the investment strategy and are used for risk management, so derivatives are marked false. There is no mention of swap agreements, total return swaps, or counterparty exposure related to synthetic replication. The Fund does not employ leverage, inverse or amplified exposure. The risk indicator in the KIID is 5 (medium-high) reflecting credit risk and liquidity risk typical of high yield bonds, but not complexity from structure or leverage. The monthly factsheet confirms physical holdings of 1,838 bonds with an average maturity of 3.32 years and effective duration of 2.79 years, no synthetic or swap-based replication. The Fund uses securities lending to reduce costs but this does not increase complexity classification. No capital protection or structured features are present. Costs are straightforward with a TER of 0.55% and no performance fees. The PRIIPs KID risk indicator is 3/7 (medium-low), reflecting the product\u2019s risk profile but not complexity. There is no comprehension warning or complexity disclosure in the PRIIPs KID. Overall, the Fund\u2019s structure, replication, and risk profile align with a non-complex classification under MiFID II rules."
}