{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Treasury Bond 1-3yr UCITS ETF",
    "investment_objective": "To track the ICE U.S. Treasury 1-3 Year Bond Index by investing primarily in US government bonds with maturities between 1 and 3 years.",
    "primary_asset_class": "bond",
    "geographic_focus": "United States",
    "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 that physically invests in US Treasury bonds with maturities of 1-3 years, tracking the ICE US Treasury 1-3 Year Bond Index. The KIID and PRIIPs KID documents confirm the fund uses physical replication with sampled methodology, not synthetic replication or swap-based structures. There is no mention of swap agreements, total return swaps, or derivative counterparty risk as an inherent part of the investment strategy. Derivatives may be used only for efficient portfolio management or hedging, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure. The risk profile is low (risk level 2 out of 7), consistent with a straightforward bond ETF. The fund invests in liquid, transparent, investment-grade US government bonds, with no complex underlying assets such as contingent convertible bonds or CLOs. The ongoing charges are low (0.07%) with no performance fees or complex fee structures. Securities lending is used but revenue sharing does not increase costs. There are no capital protection or structured features. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical holdings of US Treasury bonds (99.91%) and no use of derivatives or swaps as part of the core strategy. Overall, the fund exhibits a clear, linear relationship to the underlying index performance, with minimal derivative exposure used only for risk management, and no leverage or synthetic replication. Therefore, it is classified as non-complex under MiFID II."
}