{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Short Duration High Yield Corp Bond UCITS ETF",
    "investment_objective": "To track the return of the Markit iBoxx USD Liquid High Yield 0-5 Capped Index by investing primarily in USD denominated short duration high yield corporate bonds with maturities between 0 and 5 years.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Primarily US Dollar denominated corporate 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 bond ETF that physically invests in a diversified portfolio of short duration, sub-investment grade USD corporate bonds. The KIID and PRIIPs KID documents confirm the fund uses physical replication with sampled methodology and only limited use of financial derivative instruments (FDIs) expected to be minimal and primarily for efficient portfolio management rather than as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk indicator is moderate (4 in KIID, 3 in PRIIPs), consistent with credit risk of high yield bonds but not indicative of structural complexity. The monthly factsheet confirms direct investment in bonds, no use of swaps or complex structured products, and no capital protection or contingent features. Costs are straightforward with no performance fees or swap fees. Securities lending is used but revenue sharing does not increase costs. No complexity flags such as contingent convertible bonds, leverage, or capital protection mechanisms are present. Overall, the fund exhibits a clear, linear relationship to the underlying index and invests in liquid, transparent securities, making it non-complex under MiFID II criteria."
}