{
    "fund_name": "Invesco US Treasury Bond UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Currency hedging via FX forwards",
        "Securities lending",
        "Sampling replication method"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication with a sampling approach to track the Bloomberg US Treasury Index. While it employs FX forwards for currency hedging and engages in securities lending, these activities are standard for bond ETFs and do not introduce significant complexity. The underlying assets (US Treasury bonds) are highly liquid and transparent. The risk profile is straightforward (risk category 4), and the fund's structure is typical for UCITS-compliant ETFs. No leverage, inverse exposure, or synthetic replication is used. The primary complexity factors are minor (currency hedging, securities lending) and do not meet MiFID II's threshold for complexity.",
    "confidence": 95
}