{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Invesco GBP Corporate Bond UCITS ETF aims to track the Bloomberg Sterling Liquid Corporate Bond Index using a physical replication method with sampling. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or factsheet. The fund uses direct purchase of underlying securities via sampling techniques, holding a subset of the index bonds based on duration, sector, liquidity, and credit quality. The fund is UCITS compliant and does not employ leverage or inverse strategies. Derivatives are only used, if at all, for risk management or cost reduction purposes, not as an inherent part of the investment strategy. The risk indicator is moderate-low (3/7), consistent with a straightforward bond index tracking fund. There are no capital protection or structured features, no contingent convertible bonds or complex structured products in the holdings. The factsheet confirms physical replication, no synthetic elements, and no significant counterparty risk exposure. Costs are simple with a low ongoing charge (0.10%) and no performance fees or swap fees. Securities lending is used but is a common practice and does not add complexity under MiFID II. No comprehension warnings or complexity flags appear in the PRIIPs KID. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II."
}