{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares \u20ac Green Bond UCITS ETF is a UCITS-compliant ETF that aims to track the Bloomberg MSCI Euro Green Bond SRI including Nuclear Power Index by investing primarily in fixed income securities (investment grade green bonds). The fund uses physical replication with an optimised index approach, investing directly in bonds rather than synthetic replication or swaps. The KIID and PRIIPs KID documents confirm the use of physical holdings and only mention limited use of financial derivative instruments (FDIs) for direct investment purposes, not for synthetic replication or leverage. There is no mention of swap agreements, total return swaps, or counterparty risk related to derivatives beyond standard counterparty risk for safekeeping and operational services. The fund does not employ leverage, inverse or amplified exposure, nor does it have capital protection or structured features. The risk rating is moderate (4 in KIID, 3 in PRIIPs), consistent with investment grade bond risk, not indicating complexity. Costs are straightforward with a TER of 0.20%, no performance fees, and no complex fee structures. The monthly factsheet confirms physical replication, no synthetic or swap usage, and a diversified portfolio of over 600 bonds with no complex underlying assets such as contingent convertible bonds or CLOs. The fund engages in securities lending to generate additional income, but this is a common practice and does not increase complexity. No references to roll costs, contango, or backwardation effects are present, which are typical complexity indicators in commodity or futures-based ETFs. Overall, the fund's structure, replication method, underlying assets, and risk profile align with a non-complex classification under MiFID II."
}