{
    "type": "ETF",
    "ucits": true,
    "fund_name": "iShares Global AAA-AA Govt Bond UCITS",
    "investment_objective": "To track the Bloomberg Barclays Global Government AAA-AA Capped Bond Index by investing primarily in high credit quality government bonds.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global developed countries",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF that physically invests in a diversified portfolio of high credit quality government bonds from developed countries. The KIID and PRIIPs KID documents confirm the fund uses physical replication with sampled methodology and does not employ synthetic replication or swap agreements. While the fund may use financial derivative instruments (FDIs), these are only for direct investment purposes and not as an inherent element of the strategy, thus derivatives are marked false. 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 engages in securities lending to offset costs, but this does not add complexity under MiFID II. No capital protection or structured features are present. The underlying assets are liquid government bonds with high credit ratings, and there is no indication of complex structured products or contingent bonds. Counterparty risk disclosures relate to normal operational risks, not to synthetic replication or unfunded swaps. Costs are simple with a TER of 0.20%, no performance fees, and no swap or derivative fees. The monthly factsheet confirms physical holdings, no use of swaps, and a straightforward portfolio of government bonds. There is no PRIIPs comprehension warning or other complexity flags. Therefore, the ETF is classified as non-complex under MiFID II."
}