{
    "fund_name": "iShares $ Development Bank Bonds UCITS EUR Hedged (Acc)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": true,
    "swaps": true,
    "inverse": false,
    "complex_factors": [
        "Currency hedging using derivatives",
        "Investment in multilateral development bank bonds",
        "Use of financial derivative instruments (FDIs) for investment purposes"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF primarily uses physical replication to track the FTSE World Broad Investment-Grade USD Multilateral Development Bank Bond Capped Index. While it uses derivatives (including swaps) for currency hedging and potentially for investment purposes, these are common practices in UCITS-compliant ETFs and do not significantly alter the risk profile. The underlying assets are investment-grade bonds issued by multilateral development banks, which are relatively transparent and liquid. The ETF's risk profile is rated 3 out of 7, indicating moderate risk. The use of derivatives is for efficient portfolio management and hedging, not for leverage or complex strategies. The ETF is UCITS-compliant, which implies a higher standard of transparency and investor protection. The PRIIPs KID does not contain a comprehension warning, further supporting the non-complex classification.",
    "confidence": 85
}