{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "This UCITS ETF is actively managed and invests primarily in investment grade Green, Social, Sustainable, and Sustainability-linked bonds, with up to 20% in MBS/ABS and up to 15% in below investment grade bonds. The fund may use derivatives for efficient portfolio management (EPM) purposes only, not as a core part of its investment strategy. The fund does not use synthetic replication, leverage beyond UCITS limits, or swaps. The structure, risks, and investment objective are straightforward and transparent, and the fund is UCITS-compliant. Under MiFID II, UCITS ETFs are generally presumed non-complex unless they employ complex portfolio management techniques or use derivatives as a central part of their strategy, which is not the case here[1]. The use of derivatives for EPM with minimal impact on risk does not trigger a complex classification for UCITS ETFs under current regulatory practice[1]. The fundu2019s risk profile (category 4) reflects market volatility, not structural complexity. There is no evidence of embedded derivatives, contingent convertible bonds, or other features that would make the product difficult for a retail investor with basic knowledge to understand."
}