{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers II Global Inflation-Linked Bond UCITS ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF aims to replicate the Bloomberg World Government Inflation-Linked Bond Index by buying a portfolio of inflation-linked government bonds from developed markets, using direct physical replication as confirmed by the factsheet. The fund uses derivatives only for currency hedging purposes to reduce exchange rate fluctuations between the fund's assets and the share class currency, not as an inherent part of the investment strategy. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk related to derivatives. The fund is UCITS compliant and invests in liquid, investment-grade government inflation-linked bonds, which are straightforward underlying assets. The risk profile is moderate (category 3-4), consistent with bond market risk, and there are no capital protection or structured product features. Costs are simple, with no performance fees or swap fees, and securities lending is disclosed but does not add complexity. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying index performance with minimal derivative use limited to currency hedging, which does not trigger complexity under MiFID II. Therefore, the ETF is classified as non-complex."
}