{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Vanguard ESG Global Corporate Bond USD Hedged Accumulating UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The fund is a UCITS-compliant ETF that physically acquires a representative sample of investment grade corporate bonds to track the Bloomberg MSCI Global Corporate Float-Adjusted Liquid Bond Screened Index. The KIID and factsheet explicitly state the use of physical replication and representative sampling, with no mention of synthetic replication, swap agreements, or total return swaps. Derivatives are only used for risk or cost reduction and/or generating extra income, not as an inherent part of the investment strategy, thus derivatives are considered non-complex in this context. There is no leverage, inverse or amplified exposure. The underlying assets are investment grade corporate bonds, which are liquid and transparent, with no contingent convertible bonds or complex structured products. The risk profile is moderate (risk level 4), consistent with bond market risk, and there are no capital protection or structured features. Costs are straightforward with a single ongoing charge figure and no performance fees or swap fees. The PRIIPs KID and factsheet do not indicate any complexity warnings or comprehension warnings. Overall, the fund exhibits a straightforward, physical, index-tracking bond ETF structure with minimal derivative use for hedging, leading to a non-complex classification under MiFID II."
}