{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2033 Term $ Corp UCITS ETF USD (Acc)",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI December 2033 Maturity USD Corporate ESG Screened Index through capital growth and income.",
    "primary_asset_class": "Fixed Income (Investment Grade USD Corporate Bonds)",
    "geographic_focus": "US Dollar denominated corporate bonds, broadly US and global issuers in USD",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS ETF physically investing in a sampled portfolio of investment grade, fixed rate USD corporate bonds maturing in 2033, tracking the Bloomberg MSCI December 2033 Maturity USD Corporate ESG Screened Index. The fund uses 'optimising techniques' which may include limited use of financial derivative instruments (FDIs) for direct investment purposes, but these are not inherent to the strategy and are used for efficient portfolio management rather than leverage or synthetic replication. There is no mention of swap agreements, total return swaps, or synthetic replication structures. The fund does not employ leverage, inverse or amplified exposure. The risk profile is moderate (risk level 3-4), consistent with investment grade corporate bond exposure, with no capital protection or structured features. Counterparty risk is disclosed but limited to custodial and derivative counterparties, typical for UCITS ETFs. Costs are straightforward with a low ongoing charge (0.12%) and no performance fees. The fund engages in short-term securities lending to offset costs, which is common and not a complexity driver. The underlying assets are liquid, transparent corporate bonds with no contingent convertible bonds or complex structured products. The PRIIPs KID confirms no comprehension warnings or complexity flags. The monthly factsheet confirms physical sampling methodology and no synthetic or swap-based replication. Overall, the ETF exhibits a clear, linear relationship to the underlying index and does not meet MiFID II criteria for complexity."
}