{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2026 Term \u20ac CorpEUR (Acc) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF physically replicating the Bloomberg MSCI December 2026 Maturity EUR Corporate ESG Screened Index by investing directly in fixed income securities (investment grade, fixed rate corporate bonds maturing in 2026). The KIID and PRIIPs KID confirm the use of physical replication with sampled methodology, and no mention of synthetic replication, swap agreements, total return swaps, or derivative instruments as part of the core investment strategy. The Fund may use FDIs only for direct investment purposes (e.g., hedging or efficient portfolio management), which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure language. The risk profile is low (risk level 2-3 out of 7), consistent with a straightforward fixed income ETF. The fund engages in short-term securities lending, but this is a common practice and does not add complexity. The underlying assets are investment grade corporate bonds, liquid and transparent, with no contingent convertible bonds, CLOs, or complex structured products. No capital protection or structured features are present. Counterparty risk disclosures relate to normal custodial and securities lending counterparties, not to synthetic replication or unfunded swaps. Costs are simple, with a low ongoing charge (0.12%) and no performance fees or swap fees. The monthly factsheet confirms physical sampling replication and no use of swaps or leverage. Overall, the fund exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex under MiFID II."
}