{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Invesco UK Gilts 1-5 Year UCITS ETF is a physically replicated ETF that tracks the Bloomberg UK Gilt 1-5 Year Index. The KIID and PRIIPs documents confirm it uses physical replication (direct purchase of underlying securities) with no mention of synthetic replication, swaps, or leverage. The index consists of liquid, investment-grade UK government bonds with 1-5 years to maturity. There are no references to complex structures, capital protection, or inverse/exotic strategies. The risk profile is straightforward (risk category 3), and the fund's objective is simple: to track the index performance less fees. The fact sheet confirms 99.6% exposure to UK Treasuries with minimal cash/derivatives (0.45%). No counterparty risk or structured features are present. The fund is UCITS-compliant, further supporting its non-complex classification.",
    "confidence": 95
}