{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Govt Bond 1-3yr UCITS ETF",
    "investment_objective": "To track the Bloomberg Barclays Euro Government Bond 1-3 Year Term Index, reflecting returns of short-term Eurozone government bonds.",
    "primary_asset_class": "bond",
    "geographic_focus": "European Economic and Monetary Union (EMU) government bonds",
    "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 physically investing in Euro-denominated government bonds with maturities between 1-3 years. The fund uses a sampled physical replication method, investing directly in underlying securities or similar fixed income securities to track the index. The KIID and PRIIPs KID documents confirm the use of physical replication and only mention derivatives in the context of limited use for efficient portfolio management (e.g., hedging or optimisation), not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives. The fund does not employ leverage, inverse or amplified exposure. The risk profile is low (risk level 2 out of 7), consistent with a straightforward bond ETF. Costs are simple with no performance fees or swap fees. The monthly factsheet confirms the fund holds direct government bonds from EMU countries, with no complex underlying assets or structured products. No capital protection or structured features are present. There are no complexity flags such as contingent convertible bonds or complex derivatives. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for risk management only, and no leverage or synthetic structures. Therefore, under MiFID II, this ETF is classified as non-complex."
}