{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac High Yield Corp Bond ESG UCITS",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS ETF investing primarily in Euro denominated, sub-investment grade fixed income securities that form part of the Bloomberg Barclays MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond Index. The KIID and PRIIPs KID documents indicate the fund uses physical replication with a sampled methodology, investing directly in bonds rather than synthetic replication or swap-based structures. The documents mention the possible use of financial derivative instruments (FDIs) only for direct investment purposes or risk management, not as an inherent part of the investment strategy, so derivatives are not considered a complexity driver here. There is no mention of synthetic replication, funded or unfunded swaps, or counterparty exposure related to swaps. The fund does not employ leverage, inverse or amplified exposure, nor does it have capital protection or structured features. The risk profile is moderate (risk level 3-4 out of 7), consistent with a bond fund investing in sub-investment grade bonds, but not indicating complexity. Costs are straightforward with a TER of 0.25%, no performance fees, and no swap or derivative fees disclosed. The monthly factsheet confirms physical replication with a sampled approach, no use of swaps, and direct holdings in bonds. The underlying assets are bonds, not complex structured products or contingent convertible bonds. No complexity flags such as capital protection, leverage, or synthetic replication are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}