{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares Core Global Aggregate Bond UCITS ETF (EUR Hedged Acc) aims to track the Bloomberg Global Aggregate Bond Index using physical replication with a sampled methodology. The fund invests directly in a diversified portfolio of global investment-grade fixed income securities, including government, government-related, corporate, and securitized bonds. The KIID and PRIIPs KID documents confirm the use of physical securities rather than synthetic replication or swap agreements. While the fund uses financial derivative instruments (FDIs) such as FX forward contracts for currency hedging purposes, these are employed solely for risk management and not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse exposure, or capital protection features mentioned. The risk profile is low to medium (risk level 2-3 out of 7), consistent with a straightforward bond index tracking fund. The fund engages in securities lending, but this does not increase complexity under MiFID II. The monthly factsheet confirms the physical structure, absence of swaps, and a large number of holdings (over 17,000 bonds), indicating broad diversification and transparency. No complex underlying assets such as contingent convertible bonds or CLOs are indicated. The hedging strategy uses FX forwards but does not imply synthetic replication or significant counterparty risk exposure. Overall, the fund exhibits none of the complexity triggers such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, under MiFID II, this ETF is classified as non-complex."
}