{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares J.P. Morgan $ EM Bond EUR Hedged",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing primarily in fixed income securities (bonds) that make up the J.P. Morgan EMBI Global Core Index, with a hedging overlay using FX forward contracts to mitigate currency risk. The KIID and PRIIPs KID confirm the use of physical replication with sampled securities from the index and FX forwards for currency hedging, not synthetic replication or swap-based structures. There is no leverage, inverse or amplified exposure mentioned. The Fund does not use total return swaps or other derivative instruments as a core part of its investment strategy, but only FX forwards for hedging purposes, which is considered risk management rather than inherent derivative exposure. The risk profile is medium-low (3 out of 7 in PRIIPs KID, 5 out of 7 in KIID reflecting credit and emerging market risks), consistent with a bond ETF. No capital protection or structured features are present. Costs are straightforward with a 0.50% ongoing charge and no performance fees. The monthly factsheet confirms direct holdings in government and quasi-government bonds, no mention of contingent convertible bonds or complex structured products, and no leverage. Counterparty risk is limited to FX forward counterparties and custodians, typical for such funds. There is no mention of complex indices or contingent bonds. The use of FX forwards for hedging does not trigger complexity classification under MiFID II. Therefore, the Fund is classified as non-complex."
}