{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "The Xtrackers II US Treasuries UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent, liquid index of US Treasury bonds. It is passively managed and does not use derivatives as a core part of its investment strategyu2014derivative use, if any, is limited to efficient portfolio management (EPM) with minimal impact on risk-return, as disclosed in the KID. The ETF may engage in securities lending, but this is a secondary activity, well within UCITS limits, and does not introduce material counterparty risk or opacity. There is no significant leverage, no embedded derivatives, and no complex features such as swaps, inverse exposure, or contingent convertible bonds. The index is straightforward, with publicly available methodology and regular rebalancing. All these factors align with the MiFID II presumption that UCITS ETFs are non-complex, provided they do not employ complex strategies or hold complex underlying assets[1]. The structure, risks, and objectives of this ETF are easily understood by retail investors with basic knowledge, supporting a non-complex classification under MiFID II Article 25(4) and Delegated Regulation Article 57."
}