{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares $ Floating Rate Bond UCITS ETF is a UCITS-compliant ETF that physically replicates the Bloomberg US Floating Rate Note < 5 Years Index. The KIID and PRIIPs KID documents confirm the fund invests primarily in floating rate investment grade fixed income securities, with no mention of synthetic replication or use of swap agreements. The fund uses 'optimising techniques' and may use financial derivative instruments (FDIs) for direct investment purposes, but this is limited and for efficient portfolio management rather than inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure language. The monthly factsheet confirms the product structure is physical replication, with no swap usage or synthetic elements. The risk profile is low (category 2 out of 7), consistent with a straightforward fixed income ETF. No capital protection or structured features are present. Costs are simple with a low ongoing charge of 0.10%, no performance fees, and no swap or derivative fees. Counterparty risk disclosures relate to normal custody and operational risks, not to synthetic replication or unfunded swaps. The underlying assets are liquid, investment grade bonds with no contingent convertible bonds or complex structured products. Therefore, the ETF does not meet MiFID II criteria for complexity and is classified as non-complex."
}