{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares \u20ac Govt Bond 1-3yr UCITS ETF aims to track the Bloomberg Barclays Euro Government Bond 1-3 Year Term Index by investing primarily in Euro-denominated government bonds with maturities between 1 and 3 years. The fund uses physical replication with optimising techniques, including representative sampling of the index securities and may use financial derivative instruments (FDIs) only for direct investment purposes, not as an inherent part of the strategy. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund does not employ leverage or inverse exposure. The risk profile is low (risk level 2 out of 7), consistent with a straightforward fixed income ETF. The fund is UCITS compliant, uses physical replication, and invests directly in liquid, transparent government bonds. The monthly factsheet confirms a physical product structure with no use of swaps or complex derivatives. Costs are simple with a TER of 0.15%, no performance fees, and no complex fee structures. There are no capital protection or structured features. Counterparty risk is disclosed only in relation to securities lending and safekeeping, which is standard and limited. No complexity flags such as contingent convertible bonds, leverage, or structured products are present. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the ETF is a plain vanilla government bond ETF with minimal derivative use for efficient portfolio management, not for strategy complexity, and no leverage or synthetic replication. Therefore, it is classified as non-complex under MiFID II."
}