{
    "fund_name": "Xtrackers USD High Yield Corporate Bond UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": null,
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Bloomberg US High Yield Very Liquid Index ex 144A, which consists of high-yield corporate bonds. The KIID explicitly states that derivatives may be used for risk management, cost reduction, and improving results, but not as a core strategy. The fund does not employ leverage, inverse strategies, or synthetic replication. The risk profile is classified as category 5 due to the inherent volatility of high-yield bonds, not due to structural complexity. The ETF is UCITS-compliant, which imposes additional investor protection and transparency requirements. The factsheet confirms direct replication and does not indicate any complex features such as contingent bonds, swaps, or structured products.",
    "confidence": 95
}