{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Global Aggregate Bond ESG UCITS ETF is a UCITS-compliant exchange-traded fund that aims to track the Bloomberg MSCI Global Aggregate Sustainable and Green Bond SRI Index. The fund uses physical replication with a sampled methodology to invest directly in a broad portfolio of investment grade fixed income securities, including government, corporate, and securitized bonds globally. The KIID and PRIIPs KID documents confirm that derivatives may be used only for investment purposes or risk management, but there is no indication of synthetic replication, funded or unfunded swaps, or significant counterparty exposure. 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 low (3 out of 7 in PRIIPs, 4 in KIID), consistent with a straightforward bond index tracking strategy. Costs are simple with a low ongoing charge (0.10%) and no performance fees or swap fees. The monthly factsheet confirms physical replication, no use of swaps, and a large diversified portfolio of over 8,000 holdings. There are no capital protection or structured features. While the fund engages in securities lending, this is disclosed and does not add complexity. Overall, the fund\u2019s structure, replication method, and risk disclosures indicate it is non-complex under MiFID II criteria."
}