{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Aggregate Bond ESG UCITS ETF EUR (Dist)",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI Euro Aggregate Sustainable and Green Bond SRI Index through capital growth and income",
    "primary_asset_class": "Fixed Income (Investment Grade Bonds)",
    "geographic_focus": "Euro-denominated bonds from developed markets (Europe focus)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income fund that physically invests in a diversified portfolio of Euro-denominated investment grade bonds aligned with ESG/SRI criteria. The KIID and PRIIPs KID explicitly state the fund uses physical replication with sampled securities from the benchmark index. While the fund may use financial derivative instruments (FDIs), these are only for efficient portfolio management or risk reduction, not as an inherent part of the investment strategy, so derivatives are marked false. There is no mention of synthetic replication, swap agreements, or counterparty risk beyond normal custody and securities lending risks. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate low (3/7) in PRIIPs and 4 in KIID, consistent with a straightforward bond ETF. Costs are simple with a TER of 0.16%, no performance fees, and no complex fee structures. The underlying assets are liquid, investment grade bonds without contingent convertible bonds or complex structured products. No capital protection or structured features are present. The fund engages in securities lending with revenue sharing but this does not increase complexity. The monthly factsheet confirms physical replication, no use of swaps, and a broad diversified portfolio of over 4,600 bonds. Overall, the fund\u2019s structure, replication, and risk profile align with a non-complex classification under MiFID II."
}