{
    "fund_name": "iShares Global AAA-AA Govt Bond UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Use of financial derivative instruments (FDIs) for direct investment purposes",
        "Counterparty risk from derivative usage",
        "Securities lending activities"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication to track the Bloomberg Barclays Global Government AAA-AA Capped Bond Index. While it mentions the use of financial derivative instruments (FDIs) for direct investment purposes, there is no indication of synthetic replication, leverage, or inverse strategies. The derivatives are likely used for efficient portfolio management rather than as a core strategy. The fund's risk profile is rated 4 (moderate), and the underlying assets are government bonds with high credit ratings (AAA-AA). The securities lending activity is disclosed but does not appear to be a significant factor in the fund's complexity. The PRIIPs KID does not contain a comprehension warning, further supporting the non-complex classification.",
    "confidence": 85
}