{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fidelity Global Corp Bond Research Enhanced PAB UCITS ETF is a UCITS-compliant bond ETF investing primarily in investment grade corporate debt securities globally. The fund uses physical replication, investing directly in bonds aligned with the Solactive Paris Aligned Global Corporate USD Index. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or monthly factsheet. The fund may use derivatives only for efficient portfolio management and currency hedging, which does not trigger complexity under MiFID II. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate (risk class 3-4), consistent with a bond fund without complex derivative strategies. The underlying assets are investment grade corporate bonds, with no indication of contingent convertible bonds or other complex structured products. Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees disclosed. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms the absence of synthetic replication and derivative usage beyond risk management. Therefore, the fund is classified as non-complex under MiFID II."
}