{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco US High Yield Fallen Angels UCITS ETF",
    "investment_objective": "To provide investment results corresponding to the price and yield performance of the FTSE Time-Weighted US Fallen Angel Bond Select Index (Total Return) by investing in a representative sample of the index constituents.",
    "primary_asset_class": "Bond",
    "geographic_focus": "United States and Canada",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund uses physical replication with a representative sampling approach to track the FTSE Time-Weighted US Fallen Angel Bond Select Index, investing directly in USD-denominated corporate bonds issued by US and Canadian companies. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The PRIIPs KID confirms derivatives may be used only for risk management purposes, not as an inherent part of the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk rating is moderate (3 out of 7 in PRIIPs KID, 5 in MiFID KIID but within expected range for high yield bond funds). The Fund is UCITS compliant and uses physical replication. The underlying assets are high yield corporate bonds, which are inherently more volatile and carry credit risk but are not complex structured products or contingent convertible bonds. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge and no performance fees or swap fees. Securities lending is used but this is common and disclosed. No complexity flags such as capital guarantees, leverage, or synthetic replication are present. The index tracked is a standard bond index of fallen angels, which while specialized, does not introduce complexity under MiFID II. The monthly factsheet confirms physical holdings, no synthetic or swap usage, and no leverage. Therefore, the Fund is classified as non-complex under MiFID II."
}