{
    "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 fund is a UCITS-compliant ETF that physically replicates the Bloomberg 2029 Maturity USD Corporate Bond Screened Index using a sampling technique. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments used as part of the investment strategy. Derivatives are only used for risk management purposes such as currency hedging (FX forwards) and possibly for cost reduction or income generation, but not as an inherent part of the investment objective, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The fund invests directly in USD-denominated investment grade corporate bonds with fixed maturity in 2029, which are liquid and transparent securities. The risk profile is moderate-low (risk category 3-4), consistent with a straightforward bond ETF. No capital protection or structured features are present. The costs are simple with a low ongoing charge (0.12%) and no performance fees. Securities lending is used but is a common practice and does not add complexity under MiFID II. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no use of swaps, and no leverage. The index tracked is a screened corporate bond index with ESG exclusions but no complex derivatives or contingent bonds. Overall, the fund exhibits none of the complexity indicators under MiFID II and is therefore classified as non-complex."
}