{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, passively managed fund tracking a transparent, ESG-adjusted high yield corporate bond index using physical replication (sampling). Derivatives are used only for risk management, currency hedging, and cost reduction, not as a core part of the investment strategy. There is no significant leverage, no embedded derivatives, no swaps, and no inverse or complex features. The structure, risks, and investment objective are straightforward and disclosed in the KIID. The ETF is listed, daily priced, and UCITS-regulated, supporting frequent liquidity and transparency. All these elements align with MiFID II criteria for non-complex UCITS ETFs, as confirmed by industry practice and regulatory guidance[1]. No features were identified that would override the UCITS presumption of non-complexity under Article 25(4)(a)(iv) of MiFID II and Article 57 of the Delegated Regulation."
}