{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Treasury Bond 1-3yr UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "inverse": false,
    "derivatives": false,
    "swaps": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the ICE U.S. Treasury 1-3 Year Bond Index by investing primarily in US government bonds with maturities between 1 and 3 years. The fund uses physical replication with a sampled methodology, directly purchasing underlying fixed income securities rather than synthetic replication. Although the fund may use financial derivative instruments (FDIs) for direct investment purposes and employs optimising techniques, there is no indication that derivatives or swaps are used as a core part of the investment strategy or for leverage. The fund does not employ leverage, inverse exposure, or capital protection mechanisms. The risk profile is low (risk level 2 out of 7), consistent with a straightforward fixed income index tracking strategy. The fund engages in short-term securities lending to offset costs, but this does not increase complexity. The ongoing charges are low (0.07%), with no performance fees or complex fee structures. The monthly factsheet confirms the physical structure, absence of synthetic replication or swap usage, and direct holdings in US Treasury bonds. There are no references to contingent bonds, complex structured products, or significant counterparty risk beyond normal custodial risk. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index and invests in liquid, transparent securities, supporting a non-complex classification under MiFID II."
}