{
    "fund_name": "iShares $ High Yield Corp Bond UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "High yield bonds",
        "Credit risk exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication and does not employ synthetic replication, leverage, or inverse strategies. While it invests in high-yield corporate bonds (which carry higher credit risk), the fund's structure is straightforward, and the underlying assets are liquid. The use of derivatives is limited to efficient portfolio management (e.g., securities lending), not for replication or amplification. The risk profile is clearly disclosed, and the fund is UCITS-compliant, making it suitable for retail investors. The absence of complex features like capital protection, structured products, or significant counterparty risk further supports the non-complex classification.",
    "confidence": 90
}