{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Floating Rate Bond UCITS ETF EUR Hedged (Dist)",
    "investment_objective": "To track the Bloomberg Barclays US Floating Rate Note < 5 Years Index, providing a combination of capital growth and income.",
    "primary_asset_class": "Fixed Income (Floating Rate Bonds)",
    "geographic_focus": "US Dollar-denominated fixed income securities issued globally",
    "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 bond index with a sampled methodology. The KIID and PRIIPs KID confirm the use of physical securities with no synthetic replication or swap agreements mentioned. Derivatives are used only for currency hedging (FX forwards), which is considered risk management rather than an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is low (category 2 out of 7), consistent with a straightforward fixed income product. The monthly factsheet confirms a physical product with no mention of swap usage or synthetic replication. The Fund invests in liquid, investment grade floating rate bonds with no contingent convertible bonds or complex structured products. No capital protection or structured features are present. Costs are simple with a low TER and no performance fees or swap fees. Counterparty risk is disclosed only in relation to securities lending and FX hedging counterparties, which is standard and does not elevate complexity. There is no mention of roll costs, contango, or backwardation effects. Overall, the product is straightforward, physically replicating a transparent index of liquid bonds, with minimal derivative use for hedging only, and no leverage or synthetic structures. Therefore, it does not meet MiFID II criteria for complexity."
}