{
    "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 Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF is a UCITS-compliant ETF that pursues an actively managed equity strategy investing primarily in global equity securities. The KIID and PRIIPs KID documents indicate that the fund invests directly in equity securities and does not seek to replicate the benchmark but to outperform it through active selection. The fund may use derivatives only for efficient portfolio management purposes, not as an inherent part of the investment strategy, which means derivative use is limited and not a complexity driver. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The factsheet confirms the fund holds a diversified portfolio of physical equity securities with no indication of leverage, inverse exposure, or complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is moderately high (category 6 in KIID, 4 in PRIIPs KID), reflecting equity market volatility rather than structural complexity. Costs are straightforward with a single ongoing charge and no performance fees or swap fees. No capital protection or structured features are present. There are no complexity flags such as capital guarantees, leverage, or synthetic replication. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}