{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicated fund tracking a transparent, investment-grade corporate bond index. It uses derivatives only for efficient portfolio management (EPM), not as a core strategy, and does not employ leverage, swaps, or inverse strategies. The structure, risks, and investment objective are straightforward and disclosed in the KID. There are no embedded derivatives, complex indices, or contingent convertible bonds. The fund engages in securities lending, but this is a secondary activity, well-managed within UCITS rules, and does not introduce material complexity or opacity. The ETF meets all MiFID II Article 57 criteria for non-complex instruments: frequent liquidity, no excess liability, no risk-altering clauses, no illiquidity from exit charges, and comprehensive, understandable public information. Therefore, it is classified as non-complex under MiFID II."
}