{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Global Research Enhanced Index Equity (ESG) UCITS ETF - USD (acc)",
    "investment_objective": "Achieve long-term return in excess of MSCI World Index (Total Return Net) by actively investing primarily in a portfolio of global companies with ESG considerations.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global, 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 pursues an actively managed equity strategy investing primarily in physical equity securities globally, with at least 67% of assets in equities and no indication of synthetic replication or use of swap agreements. The KIID and PRIIPs documents state that derivatives may be used only for efficient portfolio management purposes, not as an inherent part of the investment strategy, so derivatives are considered false for complexity. There is no leverage, inverse or amplified exposure mentioned. The underlying assets are large and mid-cap equities from developed and emerging markets, with no complex structured products or contingent bonds. The risk profile is medium (risk level 6 in KIID, 4 in PRIIPs), consistent with equity market volatility but no complexity flags such as capital protection or structured features. Costs are straightforward with no performance fees or swap fees. The factsheet confirms physical holdings, no securities lending, and no synthetic replication. No counterparty risk or swap exposure is disclosed. The benchmark is MSCI World Index, a standard broad equity index without complex derivatives embedded. No references to contango, roll costs, or complex index structures are found. Overall, the ETF is a UCITS-compliant, physically replicated, actively managed equity ETF with ESG integration, without leverage or synthetic elements, thus classified as non-complex under MiFID II."
}