{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares US Aggregate Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The iShares US Aggregate Bond UCITS ETF aims to track the Bloomberg US Aggregate Bond Index by investing primarily in US dollar-denominated investment grade fixed income securities including government, government-related, corporate, and securitized bonds. The fund uses physical replication with a sampled methodology, directly investing in underlying bonds rather than synthetic replication or swap agreements. The KIID and PRIIPs KID documents confirm the use of financial derivative instruments only for direct investment purposes and optimising techniques, but not as an inherent element of the strategy, thus derivatives are not considered a complexity driver here. There is no leverage, inverse or amplified exposure mentioned. The risk profile is medium-low (risk level 3-4), consistent with a straightforward bond index tracking fund. The fund holds a large number of holdings (~9,500), mostly investment grade, with no mention of contingent convertible bonds, complex structured products, or capital protection features. Counterparty risk disclosures relate to normal custody and operational risks, not to synthetic replication or unfunded swaps. Costs are simple with a TER of 0.25%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical replication, no use of swaps, and a diversified portfolio of liquid bonds. There are no complexity flags such as capital protection, leverage, or complex underlying assets. The PRIIPs KID does not carry any comprehension warnings or complexity disclaimers. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}