{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Vanguard ESG EUR Corporate Bond UCITS",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Vanguard ESG EUR Corporate Bond UCITS ETF employs a passive management approach through physical acquisition of securities, specifically investment grade corporate fixed-rate bonds, tracking the Bloomberg MSCI EUR Corporate Liquid Bond Screened Index. The fund uses representative sampling of the index and physical replication, with no indication of synthetic replication or use of swap agreements. Derivatives are mentioned only as possible tools for risk or cost reduction and/or generating extra income, but not as inherent to the investment strategy, thus derivatives are considered non-complex in this context. There is no leverage, inverse or amplified exposure. The underlying assets are investment grade corporate bonds, which are liquid and transparent, with no complex structured products or contingent convertible bonds. The risk profile is moderate (risk level 4), consistent with a bond ETF, and the fund is UCITS compliant. Fees are straightforward with a low ongoing charge (0.16%) and no performance fees or swap fees. Counterparty risk is disclosed as a general risk but no significant counterparty exposure is evident. The ESG screening adds complexity in terms of index construction but does not affect the replication method or introduce complexity in the financial instrument itself. No capital protection or structured features are present. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II criteria."
}