{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "derivatives": false,
    "swaps": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Vanguard EUR Corporate Bond UCITS ETF physically acquires securities to track the Bloomberg Euro-Aggregate: Corporates Index, using a representative sampling technique. The KIID and PRIIPs KID explicitly state that derivatives may be used only for risk reduction, cost efficiency, or generating extra income, not as a core part of the investment strategy, indicating derivatives are used for hedging rather than exposure. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives as an inherent element of the fund. The fund does not employ leverage or inverse strategies, and the risk indicator is moderate to low (4 in KIID, 2 in PRIIPs KID), consistent with a straightforward bond ETF. The factsheet confirms physical replication, no leverage, and no synthetic structures. The underlying assets are investment-grade corporate bonds, liquid and transparent, with no complex structured products or contingent convertible bonds. Costs are simple with a low ongoing charge (0.09%) and no performance fees or swap fees. There are no capital protection or structured features. The PRIIPs KID does not carry a comprehension warning but notes the fund is 'not simple' due to bond market risks and currency exposure, which is typical for bond ETFs but does not imply MiFID II complexity. Overall, the fund's structure, replication, and risk profile align with a non-complex classification under MiFID II."
}