{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The iShares Broad Global Govt Bond UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, investment-grade government bond index. It uses derivatives only for efficient portfolio management (EPM), not as a core part of its investment strategy, and does not engage in synthetic replication, leverage, or complex structured products. The risks disclosed (credit, interest rate, liquidity, counterparty) are standard for fixed income ETFs and do not introduce structural complexity. The ETFu2019s structure, objective, and risks are straightforward and can be understood by retail investors with basic knowledge, in line with MiFID II Article 25(4)(a)(iv) and the general presumption that UCITS ETFs are non-complex unless they employ complex strategies or structured products[1]. There is no evidence of embedded derivatives, contingent convertible bonds, swaps, or other features that would trigger a complex classification under Article 57 of Delegated Regulation (EU) 2017/565."
}