{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers II Global Inflation-Linked Bond UCITS ETF",
    "investment_objective": "To reflect the performance of the Bloomberg World Government Inflation-Linked Bond Index while minimizing foreign currency fluctuations at share class level.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global developed markets (Americas, Europe, Asia-Pacific)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the Bloomberg World Government Inflation-Linked Bond Index by buying a portfolio of inflation-linked government bonds from developed markets. 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, or total return swaps. The fund is UCITS compliant and uses direct physical replication with 153 index constituents. Leverage or inverse exposure is not present. The risk profile is moderate (category 4 out of 7), consistent with bond market risk and currency hedging, without complexity flags such as capital protection or structured features. Costs are straightforward with a TER of 0.25% and no performance fees. Securities lending is used but does not increase costs materially. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms direct physical replication and no use of swaps for replication. Overall, the fund's structure and strategy are transparent and straightforward, with derivatives used solely for risk management (currency hedging), which under MiFID II does not trigger complexity classification. Therefore, the ETF is classified as non-complex."
}