{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco BulletShares 2029 USD Corporate Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco BulletShares 2029 USD Corporate Bond UCITS ETF is a passively managed ETF that physically replicates the Bloomberg 2029 Maturity USD Corporate Bond Screened Index using a sampling technique. There is no indication of synthetic replication or use of swap agreements or total return swaps. The fund may use derivatives only for risk management purposes, not as an inherent part of the investment strategy, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure mentioned. The underlying assets are USD-denominated investment grade corporate bonds with fixed coupons and maturities in 2029, which are liquid and transparent securities. The fund is UCITS compliant and has a risk rating of 4 (medium-low), consistent with a straightforward bond ETF. No capital protection or structured features are present. Costs are simple with a low ongoing charge (0.10%) and no performance fees or complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no use of swaps, and a portfolio of nearly 480 bonds with no complex structured products or contingent convertible bonds. The fund\u2019s ESG and sustainability characteristics do not add complexity. Overall, the fund\u2019s structure, replication, underlying assets, risk profile, and costs indicate a non-complex classification under MiFID II."
}