{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Corp Bond ESG UCITS ETF",
    "investment_objective": "To track the Bloomberg MSCI US Corporate Sustainable SRI Index, investing primarily in USD denominated, investment grade, fixed-rate corporate bonds with ESG/SRI criteria.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "United States (USD denominated bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income ETF physically replicating a corporate bond index with ESG screening. The KIID and PRIIPs KID explicitly state the Fund uses 'optimising techniques' which may include limited use of financial derivative instruments (FDIs) for direct investment purposes, but this is for efficient portfolio management rather than synthetic replication. There is no mention of swap agreements, total return swaps, or funded/unfunded swap structures. The monthly factsheet confirms the Fund uses a 'sampled' physical replication methodology, holding over 5,700 bonds directly, with no indication of synthetic replication or leverage. The risk profile is moderate low (3/7), with no leverage or inverse exposure. The Fund does engage in short-term securities lending, but this is standard and does not increase complexity classification. No capital protection or structured features are present. Counterparty risk disclosures relate to standard custody and securities lending counterparties, not derivative counterparties. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees. The index tracked is a corporate bond ESG screened index, which is transparent and liquid. No complex underlying assets such as contingent convertible bonds or CLOs are indicated. Overall, the Fund exhibits a straightforward, physical bond ETF structure with minimal derivative use for risk management, no leverage, and no synthetic replication, leading to a non-complex classification under MiFID II."
}