{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Broad Global Govt Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the Bloomberg Global Aggregate Treasuries Index by investing primarily in fixed income securities (government bonds) that make up the index or provide similar performance. The fund uses physical replication with optimising techniques (sampling) rather than synthetic replication. The use of financial derivative instruments (FDIs) is limited to currency hedging (FX forwards) and possibly short-term secured lending, not for core investment exposure. There is no mention of swap agreements, total return swaps, or unfunded/funded swap structures. The fund is UCITS compliant and does not employ leverage or inverse strategies. The risk profile is moderate low (risk level 3-4), consistent with direct investment in liquid, investment-grade government bonds. Costs are straightforward with a low ongoing charge (0.13%) and no performance fees. The monthly factsheet confirms physical replication, no leverage, and no complex underlying assets such as contingent convertible bonds or CLOs. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use limited to currency hedging, which is considered risk management rather than inherent strategy complexity. Therefore, under MiFID II, this ETF is classified as non-complex."
}