{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg 0-5 Year Sterling Corporate Bond UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the Bloomberg 0-5 Year Sterling Corporate Bond Index. The fund uses a stratified sampling physical replication method to build a representative portfolio of fixed-rate, investment-grade sterling-denominated corporate bonds with maturities under 5 years. There is no indication of synthetic replication or use of swap agreements or total return swaps. The fund may use derivatives only for efficient portfolio management, not as an inherent part of the investment strategy, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The risk profile is moderate (risk category 3 in KIID, 2 in PRIIPs KID), consistent with direct investment in investment-grade bonds. The fund does not have capital protection or structured features. Costs are straightforward with a TER of 0.20%, no performance fees, and no swap or derivative fees. The fund holds liquid, transparent underlying assets (corporate bonds) and does not invest in complex structured products or contingent convertible bonds. The PRIIPs KID confirms a low risk rating (2/7) and no complexity warnings or comprehension warnings. The factsheet confirms physical replication, no synthetic elements, and no leverage. Overall, the fund exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex under MiFID II."
}