{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Corp Bond UCITS ETF EUR Hedged (Dist)",
    "investment_objective": "To track the Bloomberg Barclays Global Aggregate Corporate Bond Index, providing exposure to global investment grade corporate bonds.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "Global (Emerging and Developed Markets)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant physical replication fund that invests directly in a diversified portfolio of investment grade corporate bonds globally. The fund uses optimisation techniques and may use financial derivative instruments (FDIs) only for direct investment purposes and currency hedging (FX forwards), not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or funded/unfunded swap structures. The fund is not leveraged, inverse, or leveraged multiple times. The risk profile is moderate (risk level 3-4 out of 7), consistent with investment grade corporate bond exposure. The fund engages in securities lending but this does not increase complexity under MiFID II. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical sampling methodology, no use of swaps, and direct bond holdings with over 14,000 holdings, indicating broad diversification and transparency. No capital protection or structured features are present. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. Counterparty risk is disclosed only in relation to custody and derivative counterparties for hedging, which is standard and limited. Overall, the fund exhibits a clear, linear relationship to the underlying index performance and invests in liquid, transparent securities. Therefore, it does not meet the MiFID II criteria for a complex financial instrument."
}