{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Corp Bond ex-Financials UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the Bloomberg Barclays Euro Corporate ex-Financials Bond Index by investing primarily in euro-denominated, investment grade corporate bonds issued by industrial and utility companies. The fund uses physical replication with a sampled methodology, directly investing in underlying bonds rather than synthetic replication or swap agreements. The KIID and PRIIPs KID documents confirm the use of financial derivative instruments only potentially for direct investment purposes or risk management, but not as an inherent element of the strategy, and no mention of funded or unfunded swaps or counterparty risk beyond normal custodial risk is made. The monthly factsheet confirms the fund's physical structure and absence of leverage or inverse exposure. The risk profile is low (risk level 2 out of 7 in PRIIPs KID, and 4 in KIID reflecting credit risk typical of corporate bond funds), with no capital protection or structured features. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees. There is no leverage, no inverse or amplified returns, and no complex underlying assets such as contingent convertible bonds or CLOs. Securities lending is used but revenue sharing does not increase costs. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests directly in liquid, transparent securities, and uses physical replication without synthetic or leveraged elements, leading to a non-complex classification under MiFID II."
}