{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers USD Corporate Bond SRI PAB UCITS ETF",
    "investment_objective": "To reflect the performance of the Bloomberg MSCI USD Liquid Investment Grade Corporate SRI PAB Index by physical replication of investment grade USD-denominated corporate bonds with ESG and Paris-aligned decarbonization criteria.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Primarily US and non-US issuers of USD-denominated corporate bonds",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the Bloomberg MSCI USD Liquid Investment Grade Corporate SRI PAB Index by directly purchasing a portfolio of USD-denominated investment grade corporate bonds. The fund uses derivatives only for currency hedging purposes to reduce exchange rate risk between the fund's USD assets and the EUR share class currency. There is no indication of synthetic replication, swap agreements, or total return swaps. The fund is UCITS compliant and employs a straightforward index-tracking strategy with a low ongoing charge (0.21%). The risk profile is medium-low (risk level 3 out of 7), consistent with investment grade corporate bond exposure. There is no leverage, inverse exposure, or capital protection features. The index tracked is ESG and Paris-aligned but does not involve complex structured products or contingent convertible bonds. The fund's use of derivatives is limited to currency risk management, not as an inherent element of the investment strategy, so derivatives are marked false. The factsheet confirms direct physical replication and no use of swaps. No complex fees such as performance fees or swap fees are present. The risk disclosures do not indicate significant counterparty risk or complexity warnings. The PRIIPs KID does not carry a comprehension warning. Overall, the fund's structure and strategy are transparent and linear, making it non-complex under MiFID II criteria."
}