{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Treasury Bond 1-3yr UCITS ETF GBP Hedged (Acc) Share Class",
    "investment_objective": "To track the ICE U.S. Treasury 1-3 Year Bond Index, providing exposure to short-term US government bonds with maturities between 1 and 3 years.",
    "primary_asset_class": "Fixed Income (US Treasury Bonds)",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund that physically invests in US Treasury bonds with maturities of 1-3 years. The fund uses a sampling methodology to replicate the index but primarily holds the underlying securities directly. The KIID and PRIIPs KID documents confirm that derivatives are only used for currency hedging purposes (FX forwards) and not as an inherent part of the investment strategy, so derivatives are marked false. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund does not employ leverage or inverse strategies. The risk profile is low (risk level 2 out of 7), consistent with a straightforward fixed income product. The monthly factsheet confirms the product structure is physical, with no synthetic or swap-based replication. The fund engages in short-term securities lending to offset costs, but this does not increase complexity under MiFID II. There are no capital protection or structured product features. Costs are simple, with a low ongoing charge of 0.10% and no performance fees. Counterparty risk disclosures relate only to custodial and FX forward counterparties, which is standard for UCITS ETFs. Overall, the fund exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex under MiFID II."
}