{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco Global Corporate Bond ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco Global Corporate Bond ESG UCITS ETF is a passively managed ETF that seeks to replicate the Bloomberg MSCI Global Liquid Corporate ESG Weighted SRI Sustainable Bond Index using a sampling technique. The KIID and PRIIPs KID documents explicitly state that the Fund may use derivatives only for risk management, cost reduction, or income generation, but derivatives are not an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure. The factsheet confirms physical replication and no use of synthetic structures or funded/unfunded swaps. The Fund is UCITS compliant, with a straightforward index-tracking objective investing directly in liquid, investment grade corporate bonds with ESG criteria. The risk profile is moderate-low (risk category 3-4), consistent with a non-complex bond ETF. There is no leverage, inverse exposure, capital protection, or structured features. Costs are simple with a low ongoing charge (0.15%) and no performance fees. Securities lending is used but is a common practice and does not add complexity under MiFID II. The index tracked is a standard ESG-weighted investment grade corporate bond index without complex derivatives embedded. No contingent convertible bonds or complex structured products are held. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the Fund exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms that would classify it as complex under MiFID II."
}