{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Tabula FTSE Indian Government Bond Short Duration UCITS ETF is a UCITS-compliant ETF that physically replicates the FTSE Indian Government Bond FAR Short Duration Capped Index by investing directly in INR-denominated fixed rate central government bonds. The fund uses a sampling strategy but does not employ synthetic replication or swap agreements. The KIID and PRIIPs KID explicitly state that financial derivative instruments (FDIs) may be used only for limited direct investment purposes, not as an inherent part of the strategy, and the factsheet confirms direct investment in sovereign bonds with no mention of funded or unfunded swaps or total return swaps. There is no leverage, inverse exposure, or capital protection mechanism. The risk profile is low to moderate (risk category 2-3), consistent with direct bond exposure and emerging market risks. Counterparty risk disclosures relate to custodial and operational counterparties, not derivative counterparties. Costs are straightforward with a single ongoing charge of 0.39%, no performance fees, and no complex fee structures. The PRIIPs KID includes a comprehension warning that the product 'is not simple and may be difficult to understand,' which is common for emerging market bond ETFs due to currency, liquidity, and credit risks, but this does not imply complexity under MiFID II. There is no indication of complex underlying assets such as contingent convertible bonds or CLOs. Overall, the ETF exhibits a clear, linear relationship to the underlying index performance through physical bond holdings without synthetic or leveraged elements, leading to a non-complex classification under MiFID II."
}