{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares J.P. Morgan ESG $ EM Bond UCITS ETF is a UCITS-compliant ETF that physically invests in fixed income securities constituting the J.P. Morgan ESG EMBI Global Diversified Index. The KIID and PRIIPs KID documents confirm the fund uses a sampling methodology to replicate the index and may use financial derivative instruments (FDIs) only for direct investment purposes or risk management, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or funded/unfunded swap structures. The monthly factsheet explicitly states the product structure as 'Physical' and 'Sampled' methodology, with no indication of leverage or inverse exposure. The risk profile is moderate (risk level 5 in KIID, 3 out of 7 in PRIIPs KID), consistent with emerging market bond risk, credit risk, and liquidity risk, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.45%, no performance fees, and no complex fee structures. Counterparty risk is disclosed as a general risk related to safekeeping and derivative counterparties but is not significant enough to classify the fund as complex. The fund holds a broad portfolio of emerging market sovereign and quasi-sovereign bonds, which are liquid and transparent fixed income securities, without contingent convertible bonds or complex structured products. There is no leverage or inverse exposure, and no capital protection mechanisms. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}