{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "This UCITS ETF is a sub-fund of iShares II plc, authorized in Ireland and regulated by the Central Bank of Ireland. It is passively managed and aims to track the Bloomberg Barclays US Aggregate Bond Index by investing, as far as possible and practicable, in the underlying fixed income securities of the index. The Fund may use optimising techniques and, in some cases, financial derivative instruments (FDIs) for direct investment purposes, but the KID does not indicate that derivatives are central to the investment strategy or that they introduce significant counterparty, collateral, or structural complexity. The replication method is physical (full or optimized), not synthetic, which supports transparency and ease of understanding for retail investors. The ETF may engage in securities lending, but this is a secondary activity, well within UCITS limits, and does not dominate the risk profile. There is no significant leverage, no embedded derivatives, and no indication of complex or opaque features in the index or the ETFu2019s structure. The risks disclosed (credit risk, interest rate risk, liquidity risk) are standard for fixed income ETFs and do not reflect structural complexity. The ETF is suitable for retail investors with basic knowledge, as its objective, structure, and risks are straightforward and well-explained in the KID. Under MiFID II, all UCITS are automatically non-complex unless they are structured UCITS or employ complex portfolio management techniques that make the product difficult to understandu2014neither condition applies here[1][3]. Therefore, this ETF meets all criteria for a non-complex classification under MiFID II Article 25(4) and Article 57 of the Delegated Regulation."
}