{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The Xtrackers II US Treasuries 1-3 UCITS ETF is a UCITS-compliant ETF that physically replicates the iBoxx $ Treasuries 1-3 Index by directly purchasing US Treasury bonds with maturities between 1 and 3 years. The fund uses direct physical replication as confirmed by the factsheet, which states 'Portfolio Methodology: Direct Replication (physically)'. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy, only that derivatives may be used occasionally for risk management purposes, which does not trigger complexity under MiFID II. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is low (category 2 out of 7), consistent with a straightforward bond ETF. Costs are simple with a low ongoing charge of 0.06% and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The index tracked is a transparent, liquid government bond index with clear methodology and no complex structured features. There is no capital protection or structured return mechanism. Counterparty risk is minimal as there are no swaps or synthetic elements. Overall, the ETF exhibits none of the complexity indicators such as synthetic replication, leverage, complex underlying assets, or structured features. Therefore, under MiFID II, this ETF is classified as non-complex."
}