{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The iShares $ High Yield Corp Bond UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, liquid high yield corporate bond index. It uses optimising techniques and may use financial derivative instruments (FDIs) for efficient portfolio management (EPM), but not as a core part of its investment strategy. There is no evidence of synthetic replication, embedded derivatives, structured products, or leverage beyond UCITS limits. The ETFu2019s structure, risks, and investment objective are straightforward and disclosed in the KID, supporting a non-complex classification under MiFID II Article 25(4)(a)(iv) and Article 57[1][2]. The use of derivatives for EPM does not, in this case, introduce material complexity or counterparty risk that would be difficult for a retail investor to understand, especially given the UCITS regulatory framework and the ETFu2019s passive, transparent strategy."
}