{
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The JPM Global IG Corporate Bond Active UCITS ETF is an actively managed UCITS ETF investing primarily in global investment grade corporate debt securities. The KIID and PRIIPs KID documents confirm that the fund does not seek to synthetically replicate an index but holds a portfolio of bonds directly, with no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for efficient portfolio management purposes, which is standard and does not imply inherent complexity under MiFID II. There is no leverage or inverse exposure, and the risk profile is medium-low (risk level 3-4), consistent with a straightforward bond fund. The factsheet confirms physical holdings of corporate bonds, including some subordinated and contingent convertible bonds, but these are held directly and do not imply structural complexity of the ETF itself. No capital protection or structured features are present. Costs are simple with a single ongoing charge and no performance fees or swap fees. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Therefore, the fund is classified as non-complex under MiFID II criteria."
}