{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ TIPS 0-5 UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares $ TIPS 0-5 UCITS ETF is a UCITS-compliant exchange-traded fund that aims to track the ICE U.S. Treasury Inflation Linked Bond Index 0-5 Years. The fund primarily invests in US Treasury Inflation Protected Securities (TIPS) with maturities between zero and five years. The replication method is physical, using sampled securities from the index rather than synthetic replication or swap agreements. Although the fund may use financial derivative instruments (FDIs) for direct investment purposes and FX forward contracts for currency hedging, these are ancillary and not inherent to the investment strategy, thus derivatives are not considered a complexity driver here. There is no leverage, inverse or amplified exposure. The fund does not invest in complex underlying assets such as contingent convertible bonds or CLOs, nor does it have capital protection or structured features. The risk profile is low (risk level 2-3 out of 7), consistent with investment in investment-grade US government bonds. Counterparty risk disclosures relate mainly to custody and hedging counterparties, typical for UCITS ETFs, without significant complexity flags. Costs are straightforward with a low ongoing charge of 0.12%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication, no use of swaps, and a simple fixed income portfolio of 26 holdings, all US Treasury securities. There is no mention of synthetic replication, funded or unfunded swaps, leverage, or complex structured products. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund\u2019s structure, underlying assets, and risk profile align with a non-complex classification under MiFID II."
}