{
    "fund_name": "iShares  Govt Bond 20yr Target Duration",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Target duration index complexity",
        "Government bond market sensitivity to interest rates",
        "Potential credit risk from sovereign issuers"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Markit iBoxx EUR Eurozone 20yr Target Duration Index, which consists of Eurozone government bonds with a target duration of approximately 20 years. The fund invests directly in these bonds and does not use derivatives for leverage or inverse exposure. The primary complexity factors relate to the nature of long-duration government bonds, which are sensitive to interest rate changes and credit risk, but these are inherent to the asset class rather than the fund structure. The fund's risk profile is rated as medium (level 6 on the scale), which is typical for long-duration government bonds. The use of derivatives is limited to efficient portfolio management (e.g., securities lending) and does not materially alter the fund's risk profile. The fund is UCITS-compliant and provides adequate transparency for retail investors.",
    "confidence": 90
}