{
    "fund_name": "iShares US Aggregate Bond UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the Bloomberg Barclays US Aggregate Bond Index, which consists of investment-grade US dollar-denominated bonds. The fund invests directly in fixed income securities and does not employ leverage, inverse strategies, or synthetic replication methods. While the KIID mentions the potential use of financial derivative instruments (FDIs) for direct investment purposes, the PRIIPs KID and factsheet confirm the fund uses a physical replication methodology. The underlying index and investment strategy are straightforward, focusing on diversified exposure to US government, government-related, corporate, and securitized bonds. The risk profile is rated 4 out of 7, indicating moderate risk, but this is typical for bond funds and does not indicate complexity. The fund's use of derivatives, if any, appears to be minimal and for efficient portfolio management rather than as a core strategy. The absence of complex features like capital protection, contingent convertible bonds, or structured products further supports the non-complex classification.",
    "confidence": 95
}