{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Global Emerging Markets Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF - USD (dist)",
    "investment_objective": "Achieve long-term return in excess of MSCI Emerging Markets SRI EU PAB Overlay ESG Custom Index by actively investing primarily in emerging market companies aligned with Paris Agreement objectives.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Emerging Markets (24 countries)",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF investing primarily in emerging market equities with an active management approach aiming to outperform a custom MSCI ESG benchmark. 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, implying minimal derivative exposure. There is no mention of synthetic replication, swap agreements, or counterparty risk related to derivatives. The factsheet confirms a diversified portfolio of 331 equity securities with no indication of leverage, inverse exposure, or complex underlying assets such as contingent convertible bonds or CLOs. The risk profile is medium (4/7) consistent with equity market volatility, not elevated by structural complexity. Costs are straightforward with a single ongoing charge of 0.30%, no performance fees, and no swap or derivative fees disclosed. No capital protection or structured features are present. The PRIIPs KID does not carry any comprehension warnings or complexity flags. Overall, the ETF uses physical replication with direct equity holdings, no leverage, no synthetic structures, and no complex derivatives, leading to a non-complex classification under MiFID II."
}