{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Govt Bond UCITS ETF USD (Dist)",
    "investment_objective": "To track the FTSE Group-of-Seven (G7) Government Bond Index by investing primarily in fixed income securities issued or guaranteed by G7 governments.",
    "primary_asset_class": "Bond",
    "geographic_focus": "G7 countries (developed countries)",
    "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 that physically invests in fixed income securities (government bonds) of G7 countries. The KIID and PRIIPs KID documents confirm the fund uses physical replication with sampled methodology, not synthetic replication. There is no mention of swap agreements, total return swaps, or derivative instruments used as part of the investment strategy, only limited use of financial derivative instruments for direct investment purposes or risk management, which does not trigger complexity. The fund does not employ leverage, inverse or amplified returns. The risk indicator is moderate low (3 out of 7), consistent with a straightforward bond ETF. The fund engages in short-term securities lending, but this is a common practice and does not add complexity. The monthly factsheet confirms the fund holds direct government bonds with no complex underlying assets or structured products. There are no capital protection or structured features. Costs are simple with a 0.20% ongoing charge and no performance fees or swap fees. Counterparty risk is disclosed but limited to custodial and operational counterparties, not derivative counterparties. Overall, the fund exhibits a clear, linear relationship to the underlying index and invests in liquid, transparent securities. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}