{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF",
    "investment_objective": "Track the performance of the short maturity (0-5 year) USD-issued emerging market government bond market",
    "primary_asset_class": "bond",
    "geographic_focus": "Emerging Markets (USD-denominated government bonds)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS-compliant ETF that physically replicates the ICE BofA 0-5 Year EM USD Government Bond ex-144a EUR Dynamic Hedged Index using a stratified sampling strategy. There is no mention of synthetic replication, swap agreements, or total return swaps in the KIID, PRIIPs KID, or Fact Sheet. The Fund uses derivatives only for efficient portfolio management and currency hedging, not as an inherent part of the investment strategy, so derivatives are marked false. There is no leverage or inverse exposure. The underlying assets are USD-denominated emerging market government bonds with maturities under 5 years, which are liquid and transparent fixed income securities. The risk profile is moderate (risk category 3 in KIID, 2 in PRIIPs KID), reflecting medium volatility but no complexity flags such as capital protection or structured features. Costs are straightforward with a TER of 0.47%, no performance fees, and no swap or derivative fees. The Fund does not invest in complex structured products or contingent convertible bonds. The Fund's use of currency hedging is standard and does not add complexity. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}