{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers US Treasuries Ultrashort Bond UCITS ETF",
    "investment_objective": "To reflect the performance of the FTSE US Treasury Short Duration Index by replicating a portfolio of short duration US Treasury bonds",
    "primary_asset_class": "bond",
    "geographic_focus": "United States (US Treasury securities)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond fund that physically replicates the FTSE US Treasury Short Duration Index by directly purchasing US Treasury bonds with maturities between one month and three years. The fund does not use synthetic replication or swap agreements. Derivatives are only used, if at all, for risk management or currency hedging purposes, not as an inherent part of the investment strategy. There is no leverage, inverse exposure, or capital protection mechanism. The risk profile is very low (risk category 1 out of 7), consistent with short duration US government bonds. Fees are straightforward with a low ongoing charge of 0.06% and no performance fees or swap fees. The fund engages in securities lending but this does not increase costs. The index tracked is transparent, liquid, and consists of plain vanilla US Treasury securities, excluding complex instruments like TIPS, callable bonds, or structured products. The factsheet confirms direct physical replication and no use of swaps or synthetic structures. There are no complexity flags such as contingent convertible bonds, leverage, or capital protection features. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the fund\u2019s structure and underlying assets are simple and transparent, leading to a non-complex classification under MiFID II."
}