{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Corp Bond EUR Hedged UCITS ETF (Dist)",
    "investment_objective": "To track the Bloomberg Barclays Global Aggregate Corporate Index (EUR hedged) by investing primarily in investment grade corporate bonds and using FX forward contracts to hedge currency exposure.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global (Emerging and Developed Markets)",
    "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 that physically invests in a diversified portfolio of investment grade corporate bonds globally. The fund uses sampling optimization techniques and FX forward contracts for currency hedging, but no synthetic replication or swap agreements are used. The KIID and PRIIPs KID documents explicitly mention the use of FX forwards for hedging, which are standard risk management tools and not considered inherent derivative exposure for complexity classification. There is no leverage, inverse or amplified exposure. The fund's risk rating is moderate (4 in KIID, 3 in PRIIPs), reflecting typical bond market risks such as credit risk, interest rate risk, liquidity risk, and counterparty risk related to safekeeping and FX forwards, but no complex derivative or structured product risks. The monthly factsheet confirms physical replication with sampled methodology and no mention of swap usage or synthetic structures. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. There are no capital protection or structured features. The underlying assets are liquid, investment grade corporate bonds, not contingent convertible bonds or other complex instruments. The FX forwards are short-term rolling contracts used solely for currency hedging, not for leverage or return amplification. Therefore, the ETF does not meet MiFID II criteria for complexity and is classified as non-complex."
}