{
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares iBonds Dec 2028 Term $ Corp USD ETF is a physically replicated, UCITS-compliant fund that tracks the Bloomberg MSCI December 2028 Maturity USD Corporate ESG Screened Index. It uses physical replication (sampling) to achieve its investment objective and does not employ leverage, inverse strategies, or synthetic replication. The fund's primary risks are credit risk, interest rate risk, and liquidity risk, which are typical for fixed-income ETFs. The KIID and factsheet do not indicate the use of derivatives beyond standard efficient portfolio management (EPM), nor do they mention complex underlying assets or capital protection mechanisms. The fund's risk profile (rated 4) is consistent with its investment strategy, and there are no indications of counterparty risk beyond standard custodial arrangements. The fund's ESG screening and term structure do not introduce additional complexity under MiFID II rules.",
    "confidence": 95
}