{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers II Target Maturity Sept 2029 Italy and Spain Government Bond UCITS ETF",
    "investment_objective": "To replicate the performance of the iBoxx EUR Sovereigns Italy & Spain Fixed Maturity 2029 Index by buying a portfolio of bonds issued by Italian and Spanish governments maturing between October 2028 and September 2029.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Italy and Spain",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS fund physically replicating the iBoxx EUR Sovereigns Italy & Spain Fixed Maturity 2029 Index by direct purchase of underlying government bonds. The fund does not use synthetic replication or swap agreements; the factsheet explicitly states 'Direct Replication (physically)'. While the fund may use derivatives for risk management, this is not an inherent part of the investment strategy, so derivatives are marked false. There is no leverage, inverse or amplified exposure. The underlying assets are investment grade sovereign bonds with fixed maturity dates, which are liquid and transparent. The risk profile is medium-low (risk level 3 out of 7), consistent with a straightforward bond ETF. No capital protection or structured features are present. Costs are simple with a low ongoing charge (0.12%) and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The fund does have counterparty risk related to derivatives used for risk management, but this is limited and does not drive complexity classification. Overall, the fund exhibits characteristics of a non-complex ETF under MiFID II rules."
}