{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global Govt Bond UCITS ETF EUR Hedged (Dist)",
    "investment_objective": "To track the FTSE Group-of-Seven (G7) Government Bond Index, providing exposure to investment grade government bonds issued or guaranteed by G7 countries.",
    "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 investing in a diversified portfolio of government bonds from G7 countries. The fund uses a sampling methodology to replicate the FTSE G7 Government Bond Index and employs currency hedging via FX forward contracts solely for hedging currency risk, not for investment exposure. There is no mention of synthetic replication, swap agreements, total return swaps, or unfunded/funded swap structures. The fund does not use leverage or inverse strategies. The risk profile is low to moderate (risk level 4 in KIID, 2 out of 7 in PRIIPs), consistent with direct investment in liquid, investment-grade government bonds. The fund engages in short-term securities lending to offset costs, but this does not increase complexity. The monthly factsheet confirms physical replication and no use of derivatives for investment purposes beyond currency hedging. No capital protection or structured features are present. Costs are straightforward with a TER of 0.25%, no performance fees, and no complex fee structures. Counterparty risk is disclosed but limited to custodial and FX forward counterparties, typical for such funds. There is no indication of complex underlying assets such as contingent convertible bonds or CLOs. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use strictly for hedging, making it non-complex under MiFID II."
}