{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares US Aggregate Bond UCITS ETF USD (Dist)",
    "investment_objective": "To track the Bloomberg Barclays US Aggregate Bond Index, providing exposure to US dollar-denominated investment grade fixed income securities including government, government-related, corporate and securitised bonds.",
    "primary_asset_class": "Fixed Income (Bonds)",
    "geographic_focus": "United States",
    "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 a diversified portfolio of US dollar-denominated investment grade bonds, including government, government-related, corporate, and securitised bonds. The KIID and PRIIPs KID documents confirm the use of physical replication with sampled methodology, and no mention of synthetic replication, swap agreements, or total return swaps is found. The fund uses optimising techniques which may include limited use of derivatives for investment purposes, but these are not inherent to the strategy and are not leveraged or inverse in nature. The risk indicator is moderate (3 out of 7 in PRIIPs KID, 4 in KIID), consistent with bond market risk rather than complexity. There is no leverage, no capital protection or structured features, and no complex underlying assets such as contingent convertible bonds or CLOs. The fund holds a large number of holdings (~9,500), mostly investment grade, with no indication of illiquid or hard-to-value securities beyond normal bond market risks. Costs are straightforward with a TER of 0.25%, no performance fees, and no swap or derivative fees. Securities lending is conducted with revenue sharing but does not increase costs. The PRIIPs KID does not carry any comprehension warnings or complexity flags. The monthly factsheet confirms physical holdings and no synthetic or swap-based replication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}