{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": true,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "Derivatives used for currency hedging, securities lending, and optimised physical replication",
    "supporting_data": "The ETF is a UCITS-compliant fund tracking a transparent, market-cap-weighted government bond index with a climate risk adjustment. It uses optimised physical replication, holding the underlying bonds directly, but may use financial derivative instruments (FDIs) for currency hedging (to reduce exchange rate risk between the fund's base currency and the share class currency) and for efficient portfolio management. The fund may also engage in securities lending. The use of derivatives is not central to the investment objective but is ancillary (for hedging and efficient portfolio management). The structure, risks, and investment objective are clearly disclosed and are typical for a passive bond ETF. The fund does not use leverage beyond UCITS limits, does not use swaps or synthetic replication, and does not hold complex or opaque underlying assets. The risks highlighted (credit, interest rate, counterparty) are standard for fixed income ETFs and do not introduce structural complexity beyond what is typical for the asset class.",
    "classification": "non-complex"
}