{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Treasury Bond 1-3yr UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to track the ICE U.S. Treasury 1-3 Year Bond Index by investing primarily in US government bonds with maturities between 1 and 3 years. The fund uses physical replication with a sampled methodology, directly holding fixed income securities rather than synthetic replication or swap-based structures. The KIID and PRIIPs documents confirm the use of financial derivative instruments only for currency hedging purposes (FX forwards), not as an inherent part of the investment strategy, so derivatives are used for risk management only and do not trigger complexity. There is no leverage, inverse or amplified exposure mentioned. The risk profile is low (category 2 out of 7), consistent with a straightforward fixed income ETF. The fund is UCITS compliant. The monthly factsheet confirms physical holdings of US Treasury bonds (99.91% exposure), no mention of swap usage or complex underlying assets. No capital protection or structured features are present. Costs are simple with a TER of 0.10%, no performance fees or swap fees. Counterparty risk is limited to custodial and FX forward counterparties, typical for hedging. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, invests in liquid, transparent securities, and uses derivatives only for currency hedging, not for synthetic replication or leverage. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}