{
    "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 u00a3 Ultrashort Bond ESG UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, investment-grade ultrashort 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 swaps. The structure, risks, and objectives are straightforward and disclosed, making it easily understandable for retail investors with basic knowledge. There are no embedded derivatives, complex indices, or contingent convertible bonds. Securities lending is present but is a secondary, well-managed feature within UCITS rules and does not dominate the risk profile. The ETF meets all MiFID II Article 57 criteria for non-complex classification: frequent liquidity, no excess liability, no risk-altering clauses, no illiquidity from exit charges, and comprehensive, understandable public information. Therefore, it is classified as non-complex under MiFID II."
}