{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg Global Aggregate Bond UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the Bloomberg Global Aggregate Bond Index (USD Hedged) using a stratified sampling physical replication method. The KIID and PRIIPs KID explicitly state that the Fund may use derivatives only for efficient portfolio management and currency hedging, not as an inherent part of the investment strategy, thus derivatives usage is limited and not a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk exposure. The Fund does not employ leverage, inverse or amplified exposure. The underlying assets are investment grade bonds, including government, corporate, asset-backed, and mortgage-backed securities, which are liquid and transparent. The risk profile is moderate to low (risk category 2-3 out of 7), consistent with a straightforward bond index tracking fund. Costs are simple with a low TER (0.10%) and no performance fees or swap fees. The fact sheet confirms no use of swaps or synthetic replication and no complex structured products. There are no capital protection or structured features. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF exhibits none of the MiFID II complexity indicators such as synthetic replication, leverage, complex underlying assets, or capital protection mechanisms. Therefore, it is classified as non-complex."
}