{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Green Social Sustainable Bond UCITS ETF - USD (acc)",
    "investment_objective": "Achieve long-term return in excess of the Benchmark by actively investing primarily in Green, Social, Sustainable and Sustainability-linked bonds.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global, including emerging markets and onshore PRC bonds via China-Hong Kong Bond Connect",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "Active management of sustainable bonds including MBS/ABS and below investment grade bonds; exposure to emerging markets and PRC bonds; use of derivatives only for efficient portfolio management",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant bond ETF investing primarily in fixed income securities labeled as Green, Social, Sustainable or Sustainability-linked bonds. The investment strategy is actively managed with no synthetic replication or use of swap agreements. The KIID and PRIIPs KID explicitly state that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, so derivatives exposure is minimal and risk-managed. There is no leverage, inverse or amplified exposure. The fund invests directly in physical bonds including MBS/ABS and some below investment grade bonds, with geographic exposure including emerging markets and PRC bonds. The risk profile is moderate (risk level 4 out of 7 in KIID, 3 out of 7 in PRIIPs), consistent with a bond fund with some credit and liquidity risk but no structural complexity. No capital protection or structured features are present. Costs are straightforward with no performance fees or swap fees. The factsheet confirms no synthetic replication or swap usage. Although the fund holds some complex underlying assets (MBS/ABS, emerging market bonds), these do not trigger complexity classification under MiFID II as the fund does not use derivatives as a core strategy element and has no leverage or capital protection. The PRIIPs KID does not carry any comprehension warnings. Therefore, the fund is classified as non-complex under MiFID II criteria."
}