{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The L&G ESG Emerging Markets Corporate Bond (USD) UCITS ETF is a passively managed ETF tracking the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. The fund primarily uses representative sampling of the underlying bonds, investing directly in liquid, US dollar-denominated emerging market corporate bonds. The replication method is physical - optimised, with no indication of synthetic replication or use of funded or unfunded swaps. The fund may use financial derivative instruments (FDIs) only for efficient portfolio management or hedging purposes, not as an inherent part of the investment strategy, so derivatives exposure is minimal and not complexity-driving. There is no leverage, inverse or amplified exposure. The risk rating is moderate (4 on a 7-point scale) in the KIID and low (2 on a 7-point scale) in the PRIIPs KID, reflecting the underlying bond market risks rather than structural complexity. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge of 0.35%, no performance fees, and no swap or derivative fees disclosed. The index tracked is a broad emerging market corporate bond index with ESG tilts but does not include complex structured products or contingent convertible bonds. Counterparty risk disclosures relate to normal operational risks, not significant swap counterparty exposure. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no leverage, and direct bond holdings. Overall, the fund exhibits characteristics of a non-complex UCITS ETF with transparent, physical exposure to liquid bonds and minimal derivative use for risk management only."
}