{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ TIPS UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares $ TIPS UCITS ETF aims to track the Bloomberg US Government Inflation-Linked Bond Index, which consists of US Treasury inflation-linked bonds (TIPS). The fund uses physical replication with a sampled methodology, investing directly in inflation-linked government bonds. The KIID and PRIIPs KID documents confirm the use of physical securities rather than synthetic replication or swap agreements. While the fund may use financial derivative instruments (FDIs) for currency hedging (e.g., FX forwards), these are for risk management purposes only and not as an inherent part of the investment strategy, so derivatives are marked false. There is no mention of leverage, inverse exposure, or capital protection features. The risk indicator is moderate low (3 out of 7), consistent with a straightforward fixed income ETF. The monthly factsheet confirms no use of swaps or complex structured products, with holdings almost entirely US Treasury inflation-linked bonds. The fund is UCITS compliant, with a low ongoing charge (0.12%) and no performance fees. Counterparty risk is disclosed but limited to custodial and hedging counterparties, typical for UCITS ETFs. No complexity flags such as contingent bonds, leverage, or synthetic replication are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}