{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Broad $ High Yield Corp Bond EUR Hedged (Acc) Share Class",
    "investment_objective": "To achieve a return reflecting the ICE BofAML US High Yield Constrained Index through investment in fixed income securities that make up the Index",
    "primary_asset_class": "Fixed Income (High Yield Corporate Bonds)",
    "geographic_focus": "US Dollar denominated bonds with risk exposure to FX-G10 countries, Western Europe, US and Western Europe territories",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing primarily in US Dollar denominated sub-investment grade corporate bonds that constitute the ICE BofAML US High Yield Constrained Index. The Fund uses an optimised physical replication approach, investing directly in underlying bonds rather than synthetic replication via swaps or derivatives. Derivatives are used only for currency hedging (FX forwards) and not as an inherent part of the investment strategy, so derivative exposure is minimal and for risk management purposes only. There is no leverage, inverse or amplified exposure. The risk indicator is moderate (level 3 out of 7 in PRIIPs KID), consistent with the underlying credit risk of high yield bonds but not indicating complexity. The Fund does engage in securities lending, but this does not increase complexity under MiFID II. No capital protection or structured features are present. Counterparty risk disclosures relate mainly to custody and FX hedging counterparties, typical for UCITS ETFs. The monthly factsheet confirms physical holdings of nearly 1,900 bonds with no mention of swap usage or synthetic replication. The index tracked is a standard market cap weighted high yield bond index with issuer caps, not a complex or contingent convertible bond index. Overall, the Fund\u2019s structure, replication, and risk profile align with a non-complex classification under MiFID II."
}