{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Invesco UK Gilts 1-5 Year UCITS ETF aims to track the Bloomberg UK Gilt 1-5 Year Index using a physical replication method with sampling techniques. There is no mention of synthetic replication, swap agreements, or derivative instruments used to achieve the investment objective. The fund holds a concentrated portfolio of GBP-denominated, investment grade UK government bonds with maturities between 1 and 5 years, which are liquid and transparent securities. The PRIIPs KID confirms the use of derivatives only for risk management purposes, not as an inherent part of the strategy, and the risk indicator is low (2 out of 7). There is no leverage, inverse exposure, or capital protection features. Costs are straightforward with a low ongoing charge and no performance fees. Securities lending is used but does not add complexity under MiFID II. The risk profile aligns with a low to moderate risk bond fund, and no complex structured products or contingent bonds are held. The factsheet confirms physical replication and no synthetic or swap-based structures. Therefore, the ETF does not meet the MiFID II criteria for a complex financial instrument."
}