{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "supporting_data": "The L&G ESG USD Corporate Bond UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, investment-grade corporate bond index. It primarily invests in a representative sample of the index constituents, with only limited use of derivatives for efficient portfolio management (EPM), not as a core strategy. The ETF does not use leverage, swaps, or inverse strategies. Its structure, risks (market, credit, liquidity, interest rate), and investment objective are straightforward and disclosed in the KID. The ETF is automatically non-complex under MiFID II Article 25(4)(a)(iv), as it is a standard UCITS ETF without structured or synthetic features, and does not embed complex derivatives or contingent convertible bonds. The limited derivative use for EPM does not trigger complexity under MiFID II, as it is not central to the investment strategy and does not introduce material counterparty or collateral risk[1][2]. The index is transparent and the risks are typical for a passive bond ETF, easily understood by retail investors with basic knowledge.",
    "classification": "non-complex"
}