{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The UBS (Lux) Fund Solutions - Bloomberg TIPS 1-10 UCITS ETF is a UCITS-compliant ETF that tracks the Bloomberg US Government 1-10 Year Inflation-Linked Bond Index. The fund primarily invests directly in the underlying inflation-linked US Treasury bonds (TIPS) with maturities between 1 and 10 years, using physical full replication as confirmed by the fund fact sheet. While the KIID and PRIIPs KID mention the possibility of using derivatives to gain exposure or for efficiency where direct replication is not practicable, this is described as ancillary and not an inherent part of the investment strategy. There is no indication of synthetic replication or use of funded or unfunded swaps, nor is there any leverage, inverse or amplified exposure. The risk profile is low (risk category 2 in PRIIPs KID, 3 in KIID), consistent with direct investment in investment grade government bonds. The fund does not engage in securities lending, has a simple fee structure (TER 0.10%), and no performance fees. There are no capital protection or structured product features. Counterparty risk from OTC derivatives is mentioned but mitigated by collateral policy and is not a core element of the strategy. The underlying assets are liquid US Treasury inflation-linked bonds, with no complex structured products or contingent convertible bonds. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly fact sheet confirms physical full replication and no leverage. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}