{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The Invesco BulletShares 2026 USD Corporate Bond UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, investment-grade corporate bond index. It does not use derivatives as a core part of its strategy, only for efficient portfolio management (EPM) with minimal impact on risk-return. There is no significant leverage, no swaps, no inverse exposure, and no embedded derivatives or complex features. The structure, risks, and payoff are straightforward and easily understood by retail investors with basic knowledge. The ETF meets all Article 57 criteria for non-complexity under MiFID II, as it is liquid, transparent, involves no excess liability, and provides comprehensive, understandable information. Therefore, it is classified as non-complex and does not require an appropriateness assessment for execution-only sales to retail clients[1]."
}