{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers USD Corporate Bond 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 fund physically replicating the Bloomberg USD Liquid Investment Grade Corporate Index by direct purchase of USD-denominated investment grade corporate bonds. The fund uses derivatives only for currency hedging purposes to reduce exchange rate fluctuations between the USD assets and EUR share class currency, not as an inherent part of the investment strategy. There is no mention of synthetic replication, total return swaps, or counterparty risk exposure related to swaps. The fund does not employ leverage or inverse strategies. The risk profile is moderate (risk level 3 out of 7 in PRIIPs KID), consistent with direct bond exposure and currency hedging. Costs are straightforward with a single ongoing charge of 0.21% and no performance fees or swap fees. Securities lending is minimal and revenue sharing is disclosed but does not increase costs. The index tracked is a standard investment grade corporate bond index with over 3,000 constituents, liquid bonds, and monthly rebalancing. No capital protection or structured features are present. The PRIIPs KID does not include any complexity or comprehension warnings. The factsheet confirms physical replication and no use of synthetic swaps. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use solely for hedging, no leverage, and no complex underlying assets such as contingent convertible bonds or CLOs. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}