{
    "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 Global Government Bond UCITS ETF aims to replicate the FTSE World Government Bond Index - Developed Markets by direct physical replication of investment-grade sovereign bonds from developed markets. The fund uses derivatives only for currency hedging purposes to reduce foreign exchange risk 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 exposure related to derivatives. The fund does not employ leverage or inverse exposure. The risk profile is moderate (risk level 4 in KIID, 3 in PRIIPs KID), consistent with direct bond investment risk rather than complexity-driven risk. Costs are straightforward with no performance fees or swap fees, and securities lending is minimal and disclosed. The underlying assets are liquid, investment-grade government bonds, with no complex structured products or contingent capital instruments. The PRIIPs KID confirms the fund is UCITS compliant and suitable for retail investors with basic knowledge, with no comprehension warnings or complexity flags. The factsheet confirms physical replication and derivative use limited to currency hedging, with no synthetic or swap-based replication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}