{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Xtrackers USD Corporate Bond UCITS ETF aims to replicate the Bloomberg USD Liquid Investment Grade Corporate Index by direct physical replication of investment grade USD-denominated corporate bonds. The fund uses derivatives only for currency hedging purposes to reduce exchange rate risk between the fund's USD assets and the GBP share class currency, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The fund does not employ leverage or inverse strategies. The risk profile is medium-low (3 out of 7), consistent with a straightforward bond ETF. Costs are simple, with no performance fees or swap fees, and securities lending is minimal and does not increase costs. The index tracked is composed of liquid, investment grade bonds with clear criteria and monthly rebalancing. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of swaps for replication. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use solely for currency risk management, and no complex structured features or capital protection mechanisms. Therefore, under MiFID II, this ETF is classified as non-complex."
}