{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2025 Term \u20ac CorpEUR (Acc) Share Class",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI December 2025 Maturity EUR Corporate ESG Screened Index through capital growth and income",
    "primary_asset_class": "Fixed Income (Investment Grade Euro Corporate Bonds)",
    "geographic_sector_focus": "Euro denominated corporate bonds with ESG screening, maturing between 01/01/2025 and 15/12/2025",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing in sampled fixed income securities that make up the Bloomberg MSCI December 2025 Maturity EUR Corporate ESG Screened Index. The KIID and PRIIPs KID explicitly state the Fund aims to invest 'so far as possible and practicable' directly in the underlying bonds, with no mention of synthetic replication or swap usage. The monthly factsheet confirms the Fund uses a sampled physical replication methodology and does not indicate any use of swaps or leverage. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes, which is interpreted as risk management rather than inherent strategy, thus derivatives = false. There is no leverage, inverse or amplified exposure language. The risk profile is low (3 out of 7 in KIID, 2 out of 7 in PRIIPs KID), consistent with a straightforward fixed income ETF. No capital protection or structured features are present. Costs are simple with no swap or performance fees. Counterparty risk disclosures relate to normal custody and securities lending counterparties, not to synthetic replication. The Fund holds investment grade corporate bonds with ESG screens, which are liquid and transparent. No complex underlying assets such as contingent convertible bonds or CLOs are held. The Fund is a defined term fund maturing in 2025, with shares redeemed at maturity, but this does not add complexity under MiFID II. Overall, the Fund exhibits characteristics of a non-complex UCITS ETF with physical replication and straightforward fixed income exposure."
}