{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Italy Govt Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Italy Govt Bond UCITS ETF is a UCITS-compliant ETF that aims to track the Bloomberg Barclays Italy Treasury Bond Index by investing primarily in Italian government bonds. The fund uses physical replication with optimising techniques, including representative sampling of the index 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, total return swaps, or funded/unfunded swap structures. The fund does not employ leverage, inverse or amplified exposure. The risk profile is moderate (risk level 3-4 out of 7), consistent with a straightforward fixed income government bond fund. The fund engages in short-term securities lending to offset costs, but this does not increase complexity. The monthly factsheet confirms direct investment in government bonds with no use of derivatives or swaps for replication. No capital protection or structured features are present. Costs are simple with a TER of 0.20%, no performance fees, and no complex fee structures. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests in liquid, transparent securities, and does not use synthetic replication or leverage. Therefore, under MiFID II, this ETF is classified as non-complex."
}