{
    "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 1-3 Month T-Bill UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the Bloomberg US Treasury Bills 1-3 Month Index (MXN Hedged). The fund uses a stratified sampling physical replication method to track the index, investing primarily in short-dated US Treasury Bills with maturities between 1 and 3 months. There is no indication of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, except for limited use of derivatives solely for efficient portfolio management and currency hedging, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse exposure, or capital protection features. The risk profile is very low (risk category 1 out of 7), consistent with the underlying assets being highly liquid, short-term government securities. The fund's TER is low at 0.10%, with no performance fees or complex fee structures. The PRIIPs KID does not contain any comprehension warnings or complexity flags. The monthly factsheet confirms the physical replication, absence of leverage, and investment in straightforward, liquid government securities. No complex underlying assets such as contingent convertible bonds or CLOs are held. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use for risk management only, and no significant counterparty risk exposure. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}