{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Vanguard Global Government Bond UCITS ETF employs a physical replication strategy, investing directly in a representative sample of local currency government bonds from developed countries. The KIID explicitly states the use of physical acquisition of securities and representative sampling, with no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. Derivatives may be used only for risk reduction or cost management, not as an inherent element of the investment objective, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features. The fund invests in investment-grade government bonds, which are liquid and transparent assets. The risk profile is moderate (level 4), consistent with bond market risk, and there are no complexity flags such as contingent bonds or structured products. Costs are straightforward with a low ongoing charge and no performance fees or swap fees. The fund is UCITS compliant and regulated by the Central Bank of Ireland. No PRIIPs KID or factsheet information was provided to contradict these findings. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}