{
    "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, physically replicated fund tracking a transparent, diversified corporate bond index. It uses derivatives only for efficient portfolio management (EPM), not as a core part of its investment strategy. There is no significant leverage, no embedded derivatives, and no complex features such as swaps, contingent convertibles, or structured payoffs. The structure, risks, and investment objective are straightforward and disclosed in the KID, making it easily understandable for retail investors with basic knowledge. The ETF meets all MiFID II Article 57 criteria for non-complex classification: it does not embed derivatives, does not involve excess liability, has frequent liquidity, and provides comprehensive, understandable information. No comprehension alert is required."
}