{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Ultrashort Bond ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund investing primarily in euro-denominated, investment grade, ultrashort fixed income securities. The fund aims to track the iBoxx MSCI ESG EUR Liquid Investment Grade Ultrashort Index using physical replication with a sampled methodology, as confirmed by the factsheet stating 'Product Structure: Physical' and 'Methodology: Sampled'. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. While the fund may use financial derivative instruments (FDIs) for direct investment purposes or optimisation, these are limited and not a core element of the strategy, thus derivatives are marked false per instructions. There is no leverage, inverse or amplified exposure language present. The risk profile is low (risk category 1 in KIID, 2 out of 7 in PRIIPs KID), consistent with a straightforward bond ETF. No capital protection or structured features are described. Costs are simple with a low ongoing charge (0.09%) and no performance fees or swap fees. Securities lending is conducted with revenue sharing but does not increase costs. The underlying assets are liquid, investment grade bonds with no complex structured products or contingent convertible bonds. Counterparty risk disclosures relate to normal custodial and operational risks, not to synthetic replication or unfunded swaps. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms no use of swaps or synthetic replication. Overall, the ETF exhibits characteristics of a non-complex product under MiFID II criteria."
}