{
    "fund_name": "Xtrackers USD High Yield Corporate Bond Screened UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": true,
    "swaps": false,
    "complex_factors": [
        "High yield corporate bonds",
        "Currency hedging using derivatives",
        "ESG screening complexity"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication for the underlying index (Bloomberg MSCI US High Yield Sustainable and SRI Index) and employs derivatives solely for currency hedging (GBP hedged share class). While high-yield bonds inherently carry higher risk, the use of derivatives is limited to efficient portfolio management (currency hedging) rather than for leverage or complex strategies. The ETF does not use swaps for replication, and the risk profile is clearly disclosed as category 4 (moderate risk). The ESG screening criteria add complexity but do not trigger a 'complex' classification under MiFID II. The fund is UCITS-compliant, and the replication method is physical, further supporting the non-complex classification.",
    "confidence": 90
}