{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac 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 exchange-traded fund that aims to track the Markit iBoxx Euro Liquid High Yield Index by investing primarily in Euro-denominated sub-investment grade corporate bonds. The fund uses physical replication with a sampling methodology to approximate the index, as confirmed by the factsheet stating 'Product Structure: Physical' and 'Methodology: Sampled'. Although the KIID and PRIIPs documents mention the possible use of financial derivative instruments (FDIs) for direct investment purposes and optimising techniques, these are described as ancillary and not fundamental to the investment strategy, indicating derivatives are used for risk management or tracking efficiency rather than as a core element. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to swaps. The fund does not employ leverage, inverse or amplified exposure, nor does it have capital protection or structured features. The risk indicator is moderate (4 in KIID, 3 in PRIIPs), consistent with the underlying credit risk of high yield bonds but not indicative of complexity due to derivatives or leverage. Costs are straightforward with a single ongoing charge of 0.50%, no performance fees, and no swap or derivative fees disclosed. The underlying assets are liquid corporate bonds with a large number of holdings (607), and the fund does not invest in complex structured products or contingent convertible bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. Therefore, the ETF is classified as non-complex under MiFID II criteria."
}