{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Corp Bond ESG UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income ETF tracking the Bloomberg MSCI US Corporate Sustainable SRI Index. It primarily invests in USD-denominated investment grade corporate bonds with ESG/SRI screening. The fund uses physical replication with a sampled approach to the index, as confirmed by the factsheet stating 'Product Structure: Physical without'. The KIID and PRIIPs KID mention the use of financial derivative instruments (FDIs) only for currency hedging purposes (e.g., FX forward contracts), not as an inherent part of the investment strategy, so derivatives are considered non-complex in this context. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate (3 out of 7), consistent with a straightforward bond ETF. Costs are simple with a TER of 0.17%, no performance fees, and some securities lending revenue sharing, which is common and not a complexity driver. The underlying assets are liquid, investment grade corporate bonds without contingent convertible bonds or complex structured products. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying bond index, with minimal derivative use limited to currency hedging, no leverage, and physical replication, leading to a non-complex classification under MiFID II."
}