{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Treasury Bond 20+yr UCITS ETF GBP Hedged (Dist) Share Class",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the ICE U.S. Treasury 20+ Years Bond Index by investing primarily in US government bonds with maturities over 20 years. The fund uses physical replication with a sampled methodology, investing directly in fixed income securities rather than synthetic replication or swaps. Although the fund uses financial derivative instruments (FDIs) such as FX forward contracts for currency hedging purposes, these are used solely for risk management and not as an inherent part of the investment strategy, so derivatives are marked false. There is no mention of funded or unfunded swaps, total return swaps, or counterparty exposure related to synthetic replication. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets like contingent convertible bonds or CLOs. The risk profile is medium (4 out of 7 in PRIIPs KID, 6 in KIID but driven by credit and interest rate risk typical of long duration government bonds), with no capital protection or structured features. Costs are straightforward with a low ongoing charge of 0.10%, no performance fees, and no complex fee structures. Securities lending is used but revenue sharing does not increase costs. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical investment in US Treasury bonds with no synthetic elements or leverage. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use limited to currency hedging, and no complex features that would trigger a complex classification under MiFID II."
}