{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "supporting_data": "The ETF is a UCITS-compliant, physically replicated fund tracking a transparent, market-cap-weighted index of eurozone government bonds. It uses optimising techniques for portfolio management, which may include limited use of financial derivative instruments (FDIs) for efficient portfolio management (EPM), but there is no indication that derivatives are central to the investment strategy or that the fund uses synthetic replication, swaps, or leverage. The fund may engage in securities lending, but this is a secondary activity, well-managed within UCITS rules, and does not dominate the risk profile. The index is straightforward, and the fund's structure, risks, and payoffs are easily understood by retail investors with basic knowledge. There are no embedded derivatives, complex indices, or contingent convertible bonds. The fund does not offer capital protection, but this is standard for bond ETFs and does not contribute to complexity. The risk indicator is high due to interest rate and credit risk inherent in long-dated government bonds, but this reflects market risk, not structural complexity.",
    "classification": "non-complex"
}