{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Tabula Haitong Asia ex-Japan High Yield Corp USD Bond Screened UCITS ETF",
    "investment_objective": "Track the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index",
    "primary_asset_class": "High Yield Corporate Bonds",
    "geographic_focus": "Asia ex-Japan",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "High Yield Bonds, Emerging Markets Exposure, Sampling Strategy",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF investing primarily in USD-denominated high yield corporate bonds from Asia ex-Japan. The replication method is physical with a sampling strategy, explicitly stated as not holding every index constituent but using industry standard tools for optimization. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes. The risk profile is medium (risk level 3 in PRIIPs KID, 6 in KIID due to high yield nature), but no leverage or inverse exposure is present. Counterparty risk is disclosed only in relation to safekeeping and operational services, not from swap or derivative usage. The fund does not have capital protection or structured features. Costs are straightforward with a TER of 0.65%, no performance fees, and no swap or derivative fees. The index tracked applies ESG screening and issuer/sector caps but does not involve complex structured products or contingent bonds. The PRIIPs KID includes a comprehension warning stating the product is 'not simple and may be difficult to understand,' primarily due to the high yield and emerging market bond exposure, but this does not arise from derivative or leverage complexity. The monthly factsheet confirms direct physical bond holdings, no synthetic replication, and no leverage. Therefore, under MiFID II criteria, the ETF is classified as non-complex despite the inherent risks of high yield and emerging market bonds, as it does not use derivatives or leverage as part of its investment strategy."
}