{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS (Lux) Fund Solutions - Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (hedged to CHF) is a UCITS-compliant ETF that tracks the Bloomberg US Liquid Corporates 1-5 Year Total Return Index using a stratified sampling physical replication method. The fund invests predominantly in investment grade corporate bonds with maturities between 1 and 5 years. The KIID and PRIIPs KID documents confirm that the fund may use derivatives only for hedging or efficient portfolio management purposes, not as an inherent part of the investment strategy, and there is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not employ leverage, inverse or amplified exposure, nor does it have capital protection or structured features. The risk profile is moderate to low (risk category 2 in PRIIPs KID, 4 in KIID, reflecting bond market volatility), consistent with direct investment in liquid, transparent securities. Costs are straightforward with a TER of 0.19%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical stratified sampling replication, no securities lending, and no use of swaps. There are no complex underlying assets such as contingent convertible bonds or CLOs. The currency hedging is done via currency forwards but this is standard and does not imply synthetic replication. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}