{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares China CNY Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares China CNY Bond UCITS ETF is a UCITS-compliant ETF that physically replicates the Bloomberg Barclays China Treasury + Policy Bank Index by investing directly in fixed income securities issued by the Ministry of Finance of the PRC and Chinese policy banks. The KIID and PRIIPs KID documents confirm the fund aims to hold the underlying bonds in similar proportions to the index, with no mention of synthetic replication or use of swap agreements. Derivatives are only used for currency hedging purposes (FX forwards), which is considered risk management rather than an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The fund invests in liquid, transparent fixed income securities, with no contingent convertible bonds, structured products, or complex underlying assets. The risk profile is low (risk level 2-3), consistent with a straightforward bond ETF. The monthly factsheet confirms physical replication, no use of swaps, and no leverage. Securities lending is used but revenue sharing does not increase costs materially. There are no capital protection or structured features. Counterparty risk is limited to custodial and FX forward counterparties, disclosed as normal for such funds. Overall, the fund exhibits none of the MiFID II complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}