{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ High Yield Corp Bond ESG SRI UCITS ETF EUR Hedged (Acc)",
    "investment_objective": "To track the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index, investing primarily in US Dollar denominated, sub-investment grade, fixed-rate corporate bonds with ESG/SRI criteria applied.",
    "primary_asset_class": "Fixed Income (High Yield Corporate Bonds)",
    "geographic_focus": "United States (USD denominated bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF physically investing in a diversified portfolio of sub-investment grade US corporate bonds filtered by ESG/SRI criteria. The KIID and PRIIPs KID confirm the fund uses physical replication with sampled methodology and only limited use of financial derivative instruments (FDIs) for currency hedging and efficient portfolio management, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage or inverse strategies. The risk indicator is moderate (4 in KIID, 3 in PRIIPs), reflecting credit and liquidity risks typical of high yield bond funds, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.27% and no performance fees. The monthly factsheet confirms physical holdings of over 1,100 bonds, no synthetic or swap-based replication, and no leverage. The use of FDIs is limited to FX forwards for currency hedging, which does not trigger the 'derivatives' flag under MiFID II complexity rules. The fund tracks a relatively straightforward ESG-screened high yield bond index without complex structured products or contingent convertible bonds. Therefore, the fund does not meet the MiFID II criteria for classification as a complex financial instrument."
}