{
    "success": true,
    "data": {
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "ucits": true,
        "type": "ETF",
        "complex_factors": "The ETF invests in Euro-denominated sub-investment grade bonds. While the fund itself doesn't use derivatives or leverage, it tracks an index comprised of high-yield corporate bonds. This is a complex asset class, and the fact that they are sub-investment grade means they have higher credit risk, which requires more investor knowledge to understand. Currency hedging via FDIs (FX forward contracts) is used, but only for hedging purposes.",
        "classification": "non-complex",
        "supporting_data": "The iShares u20ac High Yield Corp Bond UCITS ETFUSD Hedged (Acc) is a UCITS compliant ETF that aims to track the Markit iBoxx Euro Liquid High Yield Index. The ETF uses physical replication and the derivative use is limited to EPM (currency hedging via FX forward contracts). The fund invests in Euro denominated sub-investment grade bonds. While the use of currency hedging (FX forward contracts) introduces some counterparty risk, it is for risk mitigation, and does not inherently make the ETF complex. The bonds have a minimum amount outstanding of u20ac250 million. Given the target audience is for medium to long term investment, with the underlying index being well-documented and the fund offering a hedging strategy the overall assessment leans towards non-complex. The KID risk is rated 4/7, reflecting market volatility, which is standard for fixed income ETFs."
    }
}