{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares Broad Global Govt Bond UCITS ETF aims to track the Bloomberg Global Aggregate Treasuries Index by investing primarily in fixed income securities that make up the index or similar securities, using physical replication or optimising techniques. The KIID explicitly states the use of 'optimising techniques' which may include financial derivative instruments (FDIs) for direct investment purposes, but these are used to achieve index tracking rather than as an inherent element of the investment strategy, so derivatives are considered non-complex in this context. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty exposure related to swaps. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is moderate (risk level 4), consistent with investment grade government bonds, and counterparty risk is disclosed as a standard operational risk rather than a complexity driver. Charges are straightforward with no performance fees or swap fees. Securities lending is used but does not increase complexity. No capital protection or structured features are present. The fund is UCITS compliant and uses physical or optimised replication without synthetic elements. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}