{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM BetaBuilders US Treasury Bond 1-3 yr UCITS ETF - USD (acc)",
    "investment_objective": "Provide exposure to US Dollar-denominated fixed rate government bonds issued by the US Treasury with maturities between 1 and 3 years, tracking the J.P. Morgan Government Bond Index United States 1-3 Year Select Maturity",
    "primary_asset_class": "bond",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF pursues a passive index-tracking strategy using optimisation methodology to build a representative portfolio of US Treasury bonds with maturities between 1 and 3 years. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, thus derivatives are not considered a complexity factor. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The fund uses physical holdings of liquid US Treasury bonds, with no leverage or inverse exposure. The risk profile is low (category 2 out of 7), consistent with a straightforward bond ETF. Costs are simple with a low ongoing charge (0.07%) and no performance fees. The factsheet confirms the portfolio consists almost entirely of US Treasury bonds with no complex underlying assets or structured products. No capital protection or structured features are present. There are no complexity flags such as contingent convertible bonds, leverage, or swap usage. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the ETF is a plain vanilla, physically replicated bond ETF with minimal derivative use for risk management, making it non-complex under MiFID II."
}