{
    "type": "ETF",
    "ucits": true,
    "fund_name": "AMUNDI USD HIGH YIELD CORPORATE BOND ESG UCITS ETF EUR Hedged Dist",
    "investment_objective": "Track the Bloomberg MSCI US Corporate High Yield SRI Sustainable Index with ESG criteria, minimizing tracking error",
    "primary_asset_class": "Bond",
    "geographic_focus": "United States (88.06% exposure), international",
    "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 tracking a high-yield corporate bond ESG index via physical replication with a sampled approach. The KIID and PRIIPs KID explicitly state the use of direct investments in transferable securities representing the index constituents, with derivatives only used for efficient portfolio management and inflows/outflows, not as an inherent part of the strategy. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The risk indicator is moderate-low (3/7), consistent with a bond ETF without leverage or complex structured features. The fund uses currency hedging but no leverage or inverse exposure. Costs are straightforward with a 0.30% ongoing charge and no performance fees. The factsheet confirms physical replication and no use of swaps or synthetic structures. The underlying assets are high-yield corporate bonds, which are complex in credit risk but standard fixed income instruments, not contingent convertible bonds or structured products. No capital protection or structured features are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for operational purposes only, and no leverage or synthetic replication. Therefore, it is classified as non-complex under MiFID II criteria."
}