{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Invesco Euro Government Bond 5-7 Year UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Invesco Euro Government Bond 5-7 Year UCITS ETF is a UCITS-compliant ETF that physically replicates the Bloomberg Euro Government Select 5-7 Year Index using a sampling technique. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The fund invests directly in EUR-denominated fixed-rate government bonds from highly rated issuers (France, Germany, Italy, Netherlands, Spain) with maturities between 5 and 7 years. The fund's risk profile is moderate-low (risk category 3-4), consistent with direct bond exposure without leverage or complex derivative usage. The PRIIPs KID confirms that derivatives may only be used for risk management or cost reduction purposes, not as an inherent part of the strategy, so derivatives are marked false. The factsheet confirms physical replication with 99.9% exposure to government bonds and only 0.1% cash/derivatives, indicating minimal derivative use. There is no leverage, inverse exposure, capital protection, or complex structured products involved. Costs are straightforward with a low ongoing charge of 0.10% and no performance fees or swap fees. No complexity flags such as contingent convertible bonds, leverage, or significant counterparty risk are present. The fund's investment objective is straightforward index tracking with a clear, linear relationship to the underlying government bond index. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}