{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Core UK Gilts UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the FTSE Actuaries UK Conventional Gilts All Stocks Index by investing primarily in UK government bonds (gilts) that are investment grade and denominated in Sterling. The fund uses physical replication with optimising techniques and may use financial derivative instruments (FDIs) only for direct investment purposes, not as an inherent part of the strategy, indicating minimal derivative exposure. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The fund is not leveraged, inverse, or leveraged multiple times. The risk profile is medium-low (risk level 3-4), consistent with a straightforward fixed income ETF. The fund engages in short-term securities lending, but this does not increase complexity under MiFID II. The monthly factsheet confirms physical replication, no use of swaps or synthetic structures, and direct holdings in UK government bonds. No capital protection or structured features are present. Costs are simple with a low ongoing charge (0.07%) and no performance fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund is a plain vanilla fixed income ETF with transparent holdings and a linear risk-return profile, making it non-complex under MiFID II."
}