{
    "success": true,
    "data": {
        "type": "ETF",
        "ucits": true,
        "complex": false,
        "replication_method": "physical",
        "derivatives": false,
        "swaps": false,
        "inverse": false,
        "leverage": false,
        "complex_factors": [
            "None identified"
        ],
        "classification": "non-complex",
        "supporting_data": "The iShares $ Short Duration High Yield CorpUSD (Dist) Share Class is a UCITS ETF that aims to track the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. The fund primarily invests in fixed income securities that make up the index. It is stated that the Fund uses optimising techniques and may include financial derivative instruments (FDIs) for direct investment purposes, but their use is expected to be limited for this Share Class. Securities lending is also engaged in to generate income. Based on the provided information, the replication method appears to be primarily physical, with limited use of derivatives for EPM. The underlying index, 'USD Liquid High Yield CorpUSD (Dist) Index', while dealing with high yield corporate bonds (which carry inherent credit risk), is generally considered a standard benchmark. There is no indication of embedded derivatives, leverage beyond UCITS limits, or complex structured products. The objective and investment policy are transparent. Therefore, it aligns with the criteria for a non-complex UCITS ETF under MiFID II. The risk profile being rated 'four' reflects market volatility, not structural complexity."
    }
}