{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Global Government Bond Active UCITS ETF - USD Hedged (acc)",
    "investment_objective": "Achieve long-term return in excess of the Benchmark by actively investing primarily in global government and government related debt securities.",
    "primary_asset_class": "Bond",
    "geographic_focus": "Global government bonds including developed and emerging markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is an actively managed UCITS-compliant bond ETF investing primarily in global government and government-related debt securities. The KIID and factsheet explicitly state that the fund may use derivatives only for efficient portfolio management purposes, not as an inherent part of the investment strategy, implying derivatives usage is limited and risk management oriented. There is no mention of synthetic replication, swap agreements, total return swaps, or counterparty risk exposure. The replication method is physical, investing directly in bonds. There is no leverage, inverse or amplified exposure. The risk rating is moderate (4), consistent with bond market volatility but not indicating complexity. No capital protection or structured features are present. Costs are straightforward with a single ongoing charge and no performance fees or swap fees. The benchmark is a standard global aggregate government bond index, with no complex structured indices or contingent bonds mentioned. The PRIIPs KID does not include any comprehension warnings or complexity flags. Overall, the fund\u2019s structure, investment approach, and risk disclosures align with a non-complex classification under MiFID II."
}