{
    "ucits": true,
    "type": "ETF",
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "None",
    "classification": "non-complex",
    "supporting_data": "This UCITS ETF tracks the Bloomberg Euro Treasury 50bn 25+ Year Bond Index using direct physical replication, primarily holding the underlying government bonds. Derivatives may be used only for efficient portfolio management (EPM), such as managing inflows/outflows or better exposure to index constituents, but are not central to the investment strategy. There is no significant leverage, no use of swaps or synthetic replication, and no embedded derivatives or complex features. The structure, risks (mainly market, credit, liquidity, and operational), and investment objective are straightforward and transparent, in line with UCITS regulatory requirements. The ETF is listed and traded on stock exchanges, providing frequent liquidity. All these elements support a non-complex classification under MiFID II Article 25(4) and Article 57, as the product does not incorporate any features that would make it difficult for a retail investor with basic knowledge to understand the risks involved[1][2]."
}