{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco BulletShares 2026 USD Corporate Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS-compliant ETF that physically replicates the Bloomberg 2026 Maturity USD Corporate Bond Screened Index using a sampling technique. There is no mention of synthetic replication, swap agreements, total return swaps, or derivative counterparty risk. The fund may use derivatives only for risk management or cost reduction purposes, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage or inverse exposure. The underlying assets are investment grade USD-denominated corporate bonds with fixed coupons and maturities in 2026, which are liquid and transparent. The risk profile is moderate (risk category 4 in KIID), consistent with a bond fund, and the PRIIPs KID confirms a low risk indicator (2/7). No capital protection or structured features are present. Costs are straightforward with a low ongoing charge (0.10%) and no performance fees. Securities lending is used but does not add complexity under MiFID II. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and a straightforward index. No complexity flags such as contingent convertible bonds, leverage, or complex derivatives are identified. Therefore, the fund is classified as non-complex under MiFID II."
}