{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Govt Bond UCITS ETF USD Hedged (Acc)",
    "investment_objective": "To track the FTSE Group-of-Seven (G7) Government Bond Index, providing exposure to investment grade government bonds of G7 countries with at least one year to maturity.",
    "primary_asset_class": "Fixed Income (Government Bonds)",
    "geographic_focus": "G7 Countries (United States, Japan, France, Italy, Germany, UK, Canada)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fund physically replicating the FTSE G7 Government Bond Index by investing directly in fixed income securities issued or guaranteed by G7 governments. The fund uses optimising techniques and may use financial derivative instruments (FDIs) such as FX forwards solely for currency hedging purposes, not as an inherent part of the investment strategy, thus derivatives are not considered a complexity driver. There is no use of synthetic replication, swaps, or leverage. The fund's risk rating is low (3 out of 7 in KIID, 2 out of 7 in PRIIPs KID), indicating a straightforward risk profile consistent with physical bond exposure. The fund engages in securities lending, but this is standard and does not add complexity. The underlying assets are liquid, investment grade government bonds with no contingent capital features or structured products. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical replication, no leverage, and no synthetic swap usage. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative use limited to FX hedging, and no capital protection or structured features. Therefore, under MiFID II, this ETF is classified as non-complex."
}