{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The iShares Global Govt Bond UCITS ETF aims to track the FTSE G7 Government Bond Index by investing primarily in fixed income securities issued or guaranteed by G7 governments. The fund uses physical replication with optimising techniques, including representative sampling, to closely track the index. While the KIID and PRIIPs documents mention the possible use of financial derivative instruments (FDIs), these are used only for direct investment purposes or risk management, not as an inherent part of the investment strategy, and no synthetic replication or swap structures are indicated. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate low (risk level 3-4), consistent with direct investment in investment-grade government bonds. The fund is UCITS compliant, with a straightforward index-tracking objective, investing in liquid, transparent securities. The monthly factsheet confirms physical replication and no use of swaps or complex derivatives. Costs are simple, with a TER of 0.20%, no performance fees, and no complex fee structures. Counterparty risk disclosures relate to standard operational risks (e.g., safekeeping and securities lending) but do not indicate significant counterparty exposure from synthetic replication. There are no complex underlying assets such as contingent convertible bonds or CLOs. No leverage or inverse terms are present. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}