{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Floating Rate Bond UCITS ETF MXN Hedged (Acc) Share Class",
    "investment_objective": "To track the Bloomberg Barclays US Floating Rate Note < 5 Years Index",
    "primary_asset_class": "Fixed Income (Floating Rate Bonds)",
    "geographic_focus": "Global US Dollar-denominated fixed income securities",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically replicating a floating rate note index by investing directly in underlying fixed income securities, primarily investment grade US dollar-denominated bonds with maturities under 5 years. The Fund uses optimisation techniques and may use derivatives only for currency hedging (FX forwards), not for investment exposure, which does not trigger complexity under MiFID II. There is no mention of synthetic replication, swap agreements, or leverage. The risk profile is low (category 2/7), consistent with a straightforward fixed income ETF. The Fund engages in securities lending but this is disclosed and does not add complexity. The monthly factsheet confirms physical sampling methodology and no use of swaps or leverage. The underlying assets are liquid, investment grade bonds without contingent convertible features or complex structured products. No capital protection or structured features are present. 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 with minimal derivative use limited to FX hedging, and no leverage or synthetic structures. Therefore, it is classified as non-complex under MiFID II."
}