{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares $ Floating Rate Bond UCITS ETF USD (Dist)",
    "investment_objective": "To track the Bloomberg US Floating Rate Note < 5 Years Index, providing a return through capital growth and income by investing in US Dollar-denominated floating rate fixed income securities.",
    "primary_asset_class": "Fixed Income (Floating Rate Bonds)",
    "geographic_focus": "US Dollar-denominated global fixed income securities, primarily investment grade corporate and government-related issuers",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Fund is a UCITS ETF physically replicating the Bloomberg US Floating Rate Note < 5 Years Index using a sampled methodology. The KIID and PRIIPs KID explicitly state the use of physical securities with no mention of synthetic replication or swap agreements. The Fund may use financial derivative instruments (FDIs) for direct investment purposes, but this is limited and primarily for efficient portfolio management rather than inherent to the strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The risk profile is low (category 2 out of 7), consistent with a straightforward fixed income ETF. The Fund invests in liquid, investment grade floating rate bonds with short maturities, avoiding complex structured products or contingent convertible bonds. Counterparty risk is disclosed but limited to normal operational risks such as securities lending and custody, with no significant counterparty exposure from swaps. Costs are simple with a low ongoing charge of 0.10%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical sampling replication, no synthetic or swap usage, and a diversified portfolio of over 400 bonds. There are no capital protection or structured features. No complexity warnings or comprehension warnings appear in the PRIIPs KID. Overall, the Fund exhibits a clear, linear relationship to the underlying index and invests directly in liquid, transparent securities, meeting the criteria for non-complex classification under MiFID II."
}