{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Xtrackers II Australia Government Bond UCITS ETF",
    "investment_objective": "To reflect the performance of the FTSE Australian Government Bond Index while minimizing foreign currency fluctuations at share class level",
    "primary_asset_class": "bond",
    "geographic_focus": "Australia",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF physically replicates the FTSE Australian Government Bond Index by direct investment in AUD-denominated Australian government bonds. The fund uses derivatives only for currency hedging purposes to reduce foreign exchange risk between the AUD assets and GBP share class currency, not as an inherent part of the investment strategy. There is no use of synthetic replication, swap agreements, or leverage. The underlying assets are investment grade government bonds, which are liquid and transparent. The risk profile is moderate (category 4), consistent with bond market risk, but there are no capital protection or structured features. Costs are straightforward with a 0.30% ongoing charge and no performance fees or swap fees. The PRIIPs KID and factsheet confirm no complexity flags such as contingent bonds, leverage, or complex derivatives. The fund is UCITS compliant and uses physical replication, which aligns with a non-complex classification under MiFID II."
}