{
    "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 US Treasuries 7-10 UCITS ETF is a UCITS-compliant ETF that physically replicates the Bloomberg US Treasury 7-10 Year Index by directly purchasing US Treasury bonds with maturities between 7 and 10 years. The factsheet explicitly states the portfolio methodology as 'Direct Replication (physically)', and there is no mention of synthetic replication, swap agreements, or total return swaps in any of the documents. The fund may use derivatives only for risk management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse exposure, or capital protection features. The risk profile is moderate (category 3 or 4 out of 7), consistent with direct bond exposure and interest rate risk, but no complexity flags such as contingent bonds or structured products are present. Costs are straightforward with a low ongoing charge and no performance fees or swap fees. The PRIIPs KID does not include any comprehension warnings or complexity disclaimers. Overall, the fund exhibits a simple, transparent structure with direct investment in liquid, investment-grade US Treasury bonds, and no synthetic or leveraged elements, leading to a non-complex classification under MiFID II."
}