{
    "type": "ETF",
    "ucits": true,
    "fund_name": "SPDR Bloomberg Global Aggregate Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The SPDR Bloomberg Global Aggregate Bond UCITS ETF is a UCITS-compliant ETF domiciled in Ireland, tracking the Bloomberg Global Aggregate Bond Index (USD Hedged) using a stratified sampling physical replication method. The KIID and PRIIPs KID documents confirm the fund invests primarily in investment grade fixed-rate debt securities including government, corporate, asset-backed, and mortgage-backed securities. The fund uses derivatives only for efficient portfolio management and currency hedging, not as an inherent part of the investment strategy, with no mention of synthetic replication, swap agreements, or counterparty risk exposure. There is no leverage or inverse exposure. The risk profile is moderate (risk category 3 in KIID, 2 in PRIIPs KID), consistent with a bond index fund. The factsheet confirms no use of synthetic replication or funded/unfunded swaps, and the fund employs stratified sampling to build a representative portfolio. Costs are straightforward with a low TER (0.10%) and no performance fees. No capital protection or structured features are present. The fund holds liquid, transparent securities with no complex underlying assets such as contingent convertible bonds or CLOs. No complexity flags such as capital guarantees, barrier options, or significant counterparty risk disclosures are found. The PRIIPs KID does not carry any comprehension warnings. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, physical replication, and minimal derivative use limited to risk management, leading to a non-complex classification under MiFID II."
}