{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Corp Bond 0-3yr ESG UCITS ETF",
    "investment_objective": "To track the Bloomberg MSCI Euro Corporate 0-3 Sustainable SRI Index, investing primarily in investment grade, fixed-rate, Euro denominated corporate bonds with maturities up to 3 years, applying ESG/SRI criteria.",
    "primary_asset_class": "Fixed Income (Corporate Bonds)",
    "geographic_focus": "Eurozone / Euro 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 fixed income fund physically replicating a corporate bond index. The KIID and PRIIPs KID explicitly state the fund invests directly in fixed income securities that make up the index, with no mention of synthetic replication or swap agreements. The fund uses 'optimising techniques' which may include limited use of financial derivative instruments (FDIs) for direct investment purposes, but this is for efficient portfolio management rather than inherent strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is low (risk level 2 out of 7), consistent with a straightforward bond ETF. The monthly factsheet confirms physical replication, a large number of holdings (1352), no mention of swap usage or synthetic structures, and a total expense ratio of 0.12%. The fund engages in short-term securities lending to offset costs, but this does not increase complexity under MiFID II. No capital protection or structured features are present. The underlying assets are liquid, investment grade corporate bonds with short maturities, and no complex structured products or contingent convertible bonds are held. Counterparty risk disclosures relate only to standard operational risks, not to synthetic or swap counterparty exposure. No leverage or inverse terms appear. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for risk management only, and no synthetic replication or leverage. Therefore, it is classified as non-complex under MiFID II."
}