{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core \u20ac Corp Bond UCITS ETF GBP Hedged (Dist)",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the Bloomberg Euro Corporate Bond Index by investing primarily in investment grade Euro-denominated corporate bonds. The fund uses physical replication with optimising techniques and representative sampling to closely track the index. While the fund may use financial derivative instruments (FDIs), these are only for direct investment purposes and currency hedging (FX forwards) to reduce currency risk, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or unfunded/funded swap structures. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is low (risk level 2-3), consistent with a straightforward fixed income strategy. Costs are simple, with no performance fees or swap fees, and securities lending is conducted with revenue sharing but does not increase costs. The monthly factsheet confirms physical replication and no use of swaps or leverage. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests directly in liquid, transparent securities, and uses derivatives only for hedging, not for leverage or synthetic exposure. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}