{
    "type": "ETF",
    "ucits": true,
    "fund_name": "JPM Global Equity Multi-Factor UCITS ETF - USD (acc)",
    "investment_objective": "To track the performance of the JP Morgan Diversified Factor Global Developed (Region Aware) Equity Index, a multi-factor equity index composed of large and mid-cap developed market stocks selected based on value, momentum, and quality factors.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global Developed Markets",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF pursues a passive index-tracking strategy using physical replication by holding all or substantially all of the underlying securities in similar proportions to the index. There is no mention of synthetic replication, swap agreements, or total return swaps. The fund may use derivatives only for efficient portfolio management purposes, which does not trigger complexity under MiFID II. There is no leverage, inverse or amplified exposure. The underlying assets are large and mid-cap equities from developed markets, which are liquid and transparent. The risk profile is medium (risk level 6 in KIID, 4 in PRIIPs), consistent with equity market volatility but not indicative of complexity. Costs are straightforward with a single ongoing charge of 0.20%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The factsheet confirms physical replication and no use of synthetic structures or leverage. The index tracked is a multi-factor equity index, which is a standard equity factor strategy and not inherently complex under MiFID II. No capital protection or structured features are present. Overall, the ETF exhibits characteristics of a non-complex financial instrument under MiFID II."
}