{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares J.P. Morgan $ EM Corp Bond UCITS",
    "investment_objective": "To track the J.P. Morgan CEMBI Broad Diversified Core Index by investing primarily in USD-denominated emerging market corporate bonds.",
    "primary_asset_class": "bond",
    "geographic_focus": "Emerging markets (Latin America, Eastern Europe, Middle East, Africa, Asia excluding Japan)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF physically replicating the J.P. Morgan CEMBI Broad Diversified Core Index by investing directly in fixed income securities. The KIID and PRIIPs KID explicitly state the use of physical securities with only limited use of financial derivative instruments (FDIs) for direct investment purposes or risk management, not as an inherent part of the strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund does not employ leverage or inverse strategies. The risk profile is moderate to low (risk category 4 in KIID, 2 out of 7 in PRIIPs), consistent with a straightforward bond ETF. The monthly factsheet confirms physical sampling methodology and no use of swaps or synthetic replication. The fund invests in a broad, liquid basket of emerging market corporate bonds, without complex structured products or contingent convertible bonds. Securities lending is used but does not increase costs and is disclosed transparently. No capital protection or structured features are present. Overall, the fund\u2019s structure and disclosures align with a non-complex classification under MiFID II."
}