{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco BulletShares 2026 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 2026 Maturity USD Corporate Bond Screened Index using a sampling technique. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund may use derivatives only for risk management or cost reduction purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage or inverse exposure. The underlying assets are investment grade USD-denominated corporate bonds with fixed coupons and maturities in 2026, which are liquid and transparent securities. The risk profile is moderate with a risk category of 4 (on a 1-7 scale) in the KIID and low risk (2/7) in the PRIIPs KID, consistent with a straightforward bond ETF. No capital protection or structured features are present. Costs are simple with a low ongoing charge of 0.10% and no performance fees. Securities lending is used but is a common practice and does not add complexity. The factsheet confirms physical replication, no synthetic or swap usage, and no leverage. The index tracked is a screened investment grade corporate bond index with ESG exclusions, which does not add complexity under MiFID II. There are no complexity flags such as contingent convertible bonds, CLOs, or complex derivatives. Therefore, the ETF is classified as non-complex under MiFID II."
}