{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares J.P. Morgan $ EM Corp Bond UCITS",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the J.P. Morgan CEMBI Broad Diversified Core Index by investing primarily in USD-denominated emerging market corporate bonds. The fund uses physical replication techniques, including direct investment in fixed income securities and representative sampling, with no indication of synthetic replication or use of swap agreements. The KIID and PRIIPs KID documents confirm the use of financial derivative instruments only for direct investment purposes and not as an inherent element of the strategy, implying derivatives are used minimally and not for leverage or synthetic exposure. There is no leverage, inverse or amplified exposure mentioned. The risk profile is moderate to low (risk category 4 in KIID, 2 out of 7 in PRIIPs), consistent with a straightforward bond ETF. The fund does not employ capital protection or structured features, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. Counterparty risk is disclosed but limited to custodial and operational counterparties, not derivative counterparties. Costs are straightforward with a TER of 0.50%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical holdings of over 1,100 bonds with no mention of swap usage or synthetic replication. The index tracked is a broad emerging market corporate bond index without complex embedded derivatives or contingent features. No PRIIPs comprehension warnings or complexity flags are present. Overall, the fund exhibits characteristics of a non-complex UCITS ETF with physical replication and direct bond holdings, suitable for retail investors without requiring specialized knowledge of derivatives or complex structures."
}