{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Vanguard ESG Global Corporate Bond GBP Hedged Distributing UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF employs a passive management approach through physical acquisition of securities, explicitly stated as 'physical acquisition of securities' and 'representative sampling' of the Bloomberg MSCI Global Corporate Float-Adjusted Liquid Bond Screened Index. The Fund may use derivatives only for risk reduction, cost efficiency, or generating extra income, not as an inherent part of the investment strategy, which aligns with derivatives = false. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to derivatives as a core strategy. The fund is UCITS compliant and uses currency hedging techniques but does not employ leverage or inverse exposure. The risk profile is moderate (risk level 4), consistent with investment grade corporate bonds and no leverage. The underlying assets are investment grade corporate bonds, liquid and transparent, with no complex structured products or contingent convertible bonds. The costs are straightforward with a single ongoing charge figure (0.15%) and no performance fees or swap fees. The PRIIPs KID and factsheet confirm no synthetic replication or leverage, and the fund uses physical replication. The complexity indicators such as capital protection, structured features, or complex derivatives are absent. The fund's risk disclosures mention counterparty risk only in the context of service providers, which is standard and not indicative of complexity. Therefore, the ETF is classified as non-complex under MiFID II."
}