{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Govt Bond Climate UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant fixed income ETF tracking the FTSE Advanced Climate Risk-Adjusted European Monetary Union Government Bond Index. The fund uses physical replication with an optimised sampling technique to track the index, investing directly in investment grade Eurozone government bonds. The KIID and PRIIPs KID documents mention the possible use of financial derivative instruments (FDIs) for direct investment purposes, but this is in the context of risk management or optimisation rather than synthetic replication or inherent strategy use. There is no mention of swap agreements, total return swaps, or funded/unfunded swap structures. The monthly factsheet confirms the product structure as physical replication and does not indicate any use of synthetic replication or leverage. The risk profile is moderate low (risk level 3-4), consistent with direct bond exposure without leverage or complex derivatives. No capital protection or structured features are present. Costs are straightforward with a low ongoing charge (0.09%) and no performance fees. Counterparty risk is disclosed as a general risk related to safekeeping and derivative counterparties but is not significant or indicative of synthetic swap usage. The index tracked is a climate risk-adjusted government bond index, which is transparent and based on liquid, investment grade government bonds, not complex structured products or contingent convertible bonds. There is no leverage, inverse exposure, or complex underlying assets. The fund engages in short-term securities lending, but this does not increase complexity under MiFID II. Overall, the ETF exhibits characteristics of a non-complex product under MiFID II rules."
}