{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ High Yield Corp Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income ETF tracking the Markit iBoxx USD Liquid High Yield Capped Index, composed of liquid, sub-investment grade US dollar-denominated corporate bonds. The fund uses physical replication with sampled methodology, investing directly in underlying bonds rather than synthetic replication or swap-based structures. While the fund may use financial derivative instruments (FDIs) such as FX forwards for currency hedging, these are used solely for risk management and not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is moderate (risk level 3-4), consistent with high yield bond risk but not indicative of complexity. No capital protection or structured features are present. The fund engages in securities lending with revenue sharing but no complex fee structures or performance fees exist. The underlying assets are liquid bonds, not complex structured products or contingent convertible bonds. Counterparty risk disclosures relate mainly to custody and FX hedging counterparties, typical for UCITS ETFs. The monthly factsheet confirms physical sampled replication and no use of swaps or synthetic replication. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund\u2019s structure and investment approach are straightforward and transparent, leading to a non-complex classification under MiFID II."
}