{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Govt Bond 3-5yr UCITS ETF",
    "investment_objective": "To track the Bloomberg Barclays Euro Government Bond 5 Year Term Index by investing primarily in Euro denominated government bonds with maturities between 3 and 5 years.",
    "primary_asset_class": "bond",
    "geographic_focus": "Eurozone government bonds (France, Germany, Italy, Netherlands, Spain, and other EMU member states)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically investing in Euro denominated government bonds with maturities between 3 and 5 years, tracking a straightforward market-cap weighted index. The KIID and PRIIPs KID both confirm the use of physical replication with sampled securities rather than synthetic replication or swap-based structures. The Fund may use financial derivative instruments (FDIs) only for direct investment purposes or risk management, but this is minimal and not inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk indicator is low (3 out of 7 in KIID, 2 out of 7 in PRIIPs), consistent with a simple bond ETF. No capital protection or structured features are present. The Fund engages in short-term securities lending, but this does not increase complexity under MiFID II. The monthly factsheet confirms physical holdings, no swap usage, and a simple portfolio of investment grade government bonds. No complex underlying assets such as contingent convertible bonds or CLOs are held. No significant counterparty risk beyond normal custody and securities lending counterparty risk is disclosed. Costs are straightforward with a low TER of 0.15% and no performance fees. There is no mention of contango, roll costs, or complex index features. Overall, the Fund exhibits none of the complexity indicators that would classify it as complex under MiFID II."
}