{
    "type": "ETF",
    "ucits": true,
    "fund_name": "UBS (Lux) Fund Solutions - Bloomberg US Liquid Corporates UCITS ETF",
    "investment_objective": "Passive management aiming to track the Bloomberg US Liquid Corporates Total Return Index using stratified sampling and portfolio optimisation techniques.",
    "primary_asset_class": "Corporate Bonds (Investment Grade USD denominated bonds)",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund that primarily invests directly in a representative sample of investment grade US corporate bonds, using a stratified physical replication method. The KIID and PRIIPs KID documents confirm that the fund may use derivatives only for efficient portfolio management or to achieve proportionate exposure, but this is not an inherent part of the investment strategy, and derivative use is minimal and risk-reducing rather than speculative. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund does not employ leverage, inverse or amplified exposure. The risk profile is moderate (risk category 5 in KIID, 3 in PRIIPs KID), consistent with investment grade corporate bond exposure and no complex structured features. The fact sheet confirms physical stratified sampling replication, no securities lending, no leverage, and no capital protection or structured features. Costs are straightforward with a low TER (0.13%) and no performance fees. There are no complexity flags such as contingent convertible bonds, capital guarantees, or significant counterparty risk. The fund tracks a transparent, liquid, and well-known index of investment grade corporate bonds. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}