{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares iBonds Dec 2027 Term \u20ac CorpEUR (Acc) Share Class",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI December 2027 Maturity EUR Corporate ESG Screened Index through capital growth and income",
    "primary_asset_class": "Fixed Income (Investment Grade Euro Corporate Bonds)",
    "geographic_sector_focus": "Euro denominated corporate bonds with ESG screening, investment grade, maturing in 2027",
    "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 replicating a fixed income ESG screened corporate bond index with bonds maturing in 2027. The KIID and PRIIPs KID explicitly state the Fund aims to invest directly in the underlying fixed income securities that make up the index, using optimising techniques but no synthetic replication or swap agreements are mentioned. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes, i.e. for hedging or efficient portfolio management, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The risk indicator is low (2-3), consistent with a straightforward bond ETF. The Fund uses physical replication with sampled methodology, not synthetic replication. The monthly factsheet confirms physical product structure and no mention of swap usage or complex derivative overlays. The Fund invests in liquid, investment grade corporate bonds with ESG screens, no contingent convertible bonds or complex structured products. No capital protection or structured features are present. Costs are simple with no performance fees or swap fees. Counterparty risk is limited to normal custody and securities lending counterparties, with no significant derivative counterparty exposure. Overall, the Fund is a plain vanilla fixed income UCITS ETF with a clear, linear relationship to the underlying index and no complexity triggers under MiFID II. Therefore, it is classified as non-complex."
}