{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The ETF invests in high yield bonds which are below investment grade, and subject to the risks associated with those investments. Furthermore, the use of derivatives for efficient portfolio management may lead to complex asset determination.",
        "classification": "non-complex",
        "supporting_data": "The JPM EUR High Yield Bond Active UCITS ETF is designed to track the performance of EUR-denominated high yield corporate debt. The ETF is actively managed and uses ESG analysis in its investment decisions, integrating financially material environmental, social, and governance issues. The fund will invest primarily in below investment grade, fixed or floating rate corporate debt securities (bonds and notes). While the fund uses derivatives for efficient portfolio management, this is not the primary driver of the fund's investment strategy. The fund is a UCITS compliant, has semi-annual dividend distribution and shares are traded on stock exchanges. The KID document identifies the target audience as having basic knowledge but doesn't identify the investment strategy as particularly complex. The fund's high-yield focus could introduce market risk. The reference to efficient portfolio management (EPM) with derivatives does not automatically trigger a complex classification because they are not integral to the investment objective. Securities lending is a secondary feature within UCITS rules, so it doesn't dominate the risk profile."
    }
}