{
    "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 Japan Treasury 1-3 Year Bond UCITS ETF is a UCITS-compliant ETF that primarily invests in Japanese government bonds with maturities between 1 and 3 years. The fund uses physical full replication of the Bloomberg Global Japan Treasury 1-3 Year Index, investing directly in the underlying securities. Although the KIID and PRIIPs KID mention the possible use of derivatives, this is only for efficiency or where direct replication is impracticable, and the derivative use is limited and risk-mitigated by collateral policies. There is no indication of synthetic replication or swap usage as a core strategy. The fund does not employ leverage, inverse or amplified exposure, nor does it invest in complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is low (risk category 1-3), consistent with investment grade short-term government bonds. Costs are straightforward with a low ongoing charge (0.15%) and no performance fees. The monthly factsheet confirms physical replication, no securities lending, and no leverage. There are no capital protection or structured features. The fund is suitable for retail investors with basic financial understanding and does not carry complexity warnings in the PRIIPs KID. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}