{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global High Yield Corp Bond CHF Hedged UCITS ETF (Dist)",
    "investment_objective": "To track the Markit iBoxx Global Developed Markets Liquid High Yield Capped (CHF Hedged) Index, providing exposure to global developed market high yield corporate bonds with currency hedging to CHF.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global Developed Markets",
    "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 primarily in sub-investment grade corporate bonds that constitute the benchmark index. The Fund uses a sampling methodology and invests directly in underlying fixed income securities. Currency risk is managed via one-month FX forward contracts to hedge non-CHF currency exposure back to CHF; however, these derivatives are used solely for hedging purposes and not as an inherent part of the investment strategy, so 'derivatives' is marked false. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The Fund does not employ leverage or inverse strategies, nor does it have capital protection or structured product features. The risk indicator is moderate (3 out of 7 in PRIIPs KID, 4 in KIID), consistent with typical high yield bond risk, but not indicative of complexity under MiFID II. Costs are straightforward with a TER of 0.55%, no performance fees, and no complex fee structures. Securities lending is used but revenue sharing is transparent and does not add complexity. The monthly factsheet confirms physical replication and no use of swaps or synthetic structures. The Fund invests in liquid, transparent fixed income securities with a diversified portfolio of over 1,500 holdings. The use of FX forwards for hedging is standard and does not trigger complexity classification. No contingent convertible bonds or other complex structured products are held. Overall, the Fund\u2019s structure and strategy align with non-complex classification under MiFID II."
}