{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Corp Bond Interest Rate Hedged ESG UCITS ETF",
    "investment_objective": "To achieve a return reflecting the Bloomberg MSCI EUR Corporate Interest Rate Hedged Sustainable SRI Index, hedging underlying interest rate risk via German government bond futures.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "Eurozone / Europe",
    "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 investing in Euro denominated investment grade corporate bonds that make up the Bloomberg MSCI Euro Corporate Sustainable SRI Index. It uses interest rate hedging via German government bond futures contracts, which are derivatives, but these are used for risk management rather than as an inherent part of the investment strategy. The KIID and PRIIPs KID confirm the use of physical securities with some futures for hedging, no mention of synthetic replication or swap agreements. The Fund does not employ leverage, inverse or amplified exposure. The risk indicator is low (3 in KIID, 2 in PRIIPs KID), consistent with a non-complex fixed income product. No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. The monthly factsheet confirms physical portfolio holdings with a large number of corporate bonds and a very low effective duration (0.01 years) indicating effective interest rate hedging. Counterparty risk is disclosed as a standard risk related to futures clearing but no significant counterparty exposure from swaps. The use of futures for hedging does not trigger classification as complex under MiFID II. There is no leverage or contingent convertible bonds or complex structured products in the portfolio. Therefore, the ETF is classified as non-complex."
}