{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Corp Bond Interest Rate Hedged",
    "investment_objective": "To track the Markit iBoxx USD Liquid Investment Grade Interest Rate Hedged Index, providing exposure to US Dollar denominated investment grade corporate bonds while hedging interest rate risk using US Treasury bond futures.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "United States (USD denominated corporate bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically invests in a diversified portfolio of US Dollar denominated investment grade corporate bonds, aiming to replicate the underlying index. It uses US Treasury bond futures contracts solely for interest rate hedging purposes, not for synthetic replication or leverage. There is no mention of swap agreements, total return swaps, or unfunded/funded swap structures. The use of derivatives is limited to futures for hedging, which does not trigger complexity under MiFID II. The fund is UCITS compliant, has no leverage or inverse exposure, and does not invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderate (risk level 3-4), consistent with a bond fund with interest rate hedging. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. Counterparty risk is disclosed but limited to futures counterparties and securities lending agents, typical for such funds. The PRIIPs KID confirms no comprehension warnings or complexity flags. The monthly factsheet confirms physical holdings and use of futures for hedging only, with no swaps or synthetic replication. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative complexity, making it non-complex under MiFID II."
}