{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco US High Yield Fallen Angels UCITS ETF",
    "investment_objective": "To provide investment results corresponding to the price and yield performance of the FTSE Time-Weighted US Fallen Angel Bond Select Index (Total Return) by investing in a representative sample of the index constituents.",
    "primary_asset_class": "Bond",
    "geographic_focus": "United States and Canada",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund uses physical replication with a sampling technique to select securities representative of the index. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The PRIIPs KID confirms derivatives may be used only for risk management purposes, not as an inherent part of the strategy, so derivatives are marked false. There is no leverage or inverse exposure. The underlying assets are US and Canadian corporate bonds, primarily fallen angels (high yield bonds downgraded from investment grade). The Fund is UCITS compliant and uses a straightforward index-tracking approach. Risk rating is moderate (5 in KIID, 3 in PRIIPs KID), reflecting credit risk and concentration risk typical of high yield bond funds, but no complexity flags such as capital protection or structured features are present. Costs are simple with no performance fees or swap fees. Securities lending is used but is a common practice and does not add complexity under MiFID II. The monthly factsheet confirms physical holdings of bonds, no synthetic replication or swaps, and no leverage. Overall, the Fund is non-complex under MiFID II criteria."
}