{
    "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 10+ UCITS ETF (hedged to EUR) is a UCITS-compliant ETF that physically replicates the Bloomberg US Government 10+ Year Inflation-Linked Bond Index hedged to EUR. The fund invests predominantly in inflation-linked US Treasury bonds with maturities over 10 years, using full physical replication as confirmed by the factsheet. The KIID mentions that derivatives may be used only to gain exposure when direct replication is not practicable or to generate efficiencies, but this is limited and does not constitute synthetic replication or swap usage. There is no mention of funded or unfunded swaps, total return swaps, or counterparty risk beyond standard collateralized OTC derivative usage for currency hedging. The fund is not leveraged, does not use inverse or amplified exposure, and has no capital protection or structured features. The risk profile is moderate-high (risk category 6) due to bond market volatility and inflation-linked bond characteristics, not due to complexity. Costs are straightforward with a low TER of 0.13% and no performance fees or complex fee structures. The fund holds liquid, transparent government bonds and does not invest in complex underlying assets such as contingent convertible bonds or CLOs. The PRIIPs KID and factsheet do not indicate any complexity warnings or comprehension warnings. Overall, the fund\u2019s structure, replication method, and underlying assets indicate a non-complex classification under MiFID II."
}