{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers II Eurozone Government Bond 5-7 UCITS ETF 1D - GBP Hedged",
    "investment_objective": "To reflect the performance of the Markit iBoxx EUR Eurozone (DE ES FR IT NL) 5-7 Index, which tracks EUR-denominated investment grade government bonds with maturities between 5 and 7 years from five Eurozone countries.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Eurozone (France, Germany, Italy, Netherlands, Spain)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses direct physical replication of Eurozone government bonds with maturities between 5 and 7 years, investing only in investment grade bonds. The KIID and factsheet confirm no use of synthetic replication or swap agreements. Derivatives are only used for currency hedging purposes, not as an inherent part of the investment strategy, so derivatives exposure is minimal and risk management oriented. There is no leverage or inverse exposure. The fund is UCITS compliant and has a moderate risk rating of 4, consistent with bond market risk but not indicating complexity. The index tracked is a straightforward government bond index with 31 constituents, no complex structured products or contingent bonds are held. No capital protection or structured features are present. Costs are simple with a low ongoing charge of 0.20% and no performance fees or swap fees. Securities lending is minimal and does not add complexity. The PRIIPs KID does not contain any comprehension warnings or complexity flags. Overall, the fund exhibits a clear, linear relationship to the underlying bond index and invests directly in liquid, transparent securities, making it non-complex under MiFID II criteria."
}