{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares \u20ac Govt Bond 20yr Target Duration",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant exchange-traded fund that aims to track the Markit iBoxx EUR Eurozone 20yr Target Duration Index by investing primarily in fixed income securities (government bonds) with a target duration of approximately 20 years. The fund uses physical replication with sampled methodology, investing directly in bonds rather than synthetic replication or swaps. Although the fund may use financial derivative instruments (FDIs) for direct investment purposes and employs optimising techniques, these are not inherent to the strategy but rather for efficient portfolio management, thus derivatives are not considered a complexity driver here. There is no mention of synthetic replication, funded or unfunded swaps, or counterparty exposure related to swaps. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or structured products. The risk profile is medium (4 out of 7 in PRIIPs KID), reflecting typical fixed income risks such as credit risk, interest rate risk, and liquidity risk, but no complexity flags such as capital protection or structured features are present. Costs are straightforward with a TER of 0.15%, no performance fees, and no swap or derivative fees disclosed. The monthly factsheet confirms physical replication and direct bond holdings with no synthetic or swap usage. There is no PRIIPs comprehension warning or complexity indication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}