{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares iBonds Dec 2026 Term \u20ac Corp UCITS ETF is a fixed income ETF that aims to track the Bloomberg MSCI December 2026 Maturity EUR Corporate ESG Screened Index. The fund invests primarily in investment grade, fixed rate Euro-denominated corporate bonds maturing in 2026, using physical replication with sampling techniques to match the index. There is no indication of synthetic replication or use of swap agreements or total return swaps. The fund may use financial derivative instruments (FDIs) only for direct investment purposes, not as an inherent part of the strategy, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The risk indicator is low (3 out of 7 in KIID, 2 out of 7 in PRIIPs KID), consistent with a straightforward fixed income ETF. The fund does engage in short-term securities lending, but this is a common practice and does not add complexity. The underlying assets are liquid, investment grade corporate bonds without contingent convertible bonds or complex structured products. No capital protection or structured features are present. Counterparty risk disclosures relate to normal custody and securities lending counterparties, not to synthetic replication or unfunded swaps. Costs are simple, with a TER of 0.12%, no performance fees, and no swap or derivative fees. The index tracked is a screened corporate bond index with ESG exclusions, but this does not add complexity in the MiFID II sense. The monthly factsheet confirms physical replication and no use of swaps. Therefore, the fund is classified as non-complex under MiFID II."
}