{
    "success": true,
    "data": {
        "ucits": true,
        "type": "ETF",
        "leverage": false,
        "derivates": false,
        "swaps": false,
        "inverse": false,
        "replication_method": "physical",
        "complex_factors": "The active management strategy and the integration of ESG analysis in investment decisions. The fund uses derivatives for efficient portfolio management, but not as an integral part of its strategy. The fund invests in below investment grade bonds, which increases the risk profile",
        "classification": "non-complex",
        "supporting_data": "The JPM EUR High Yield Bond Active UCITS ETF - GBP Hedged (acc) is a UCITS ETF. The ETF invests in a portfolio of EUR-denominated below investment grade corporate debt securities. The use of derivatives is limited to efficient portfolio management. The fund's objective is to exceed its benchmark's return, demonstrating an active management approach. The ETF also includes ESG analysis in its investment decisions. The ETF does not use significant leverage. Although it invests in below-investment-grade bonds, which could increase the risk for retail investors who might not fully understand the risks, the fund's primary strategy is not heavily reliant on complex instruments. The KID risk rating is 4/7, indicating a medium-high risk level but not structural complexity. This supports a non-complex classification. There are no elements of this strategy which would suggest that the fund would not meet the MiFID II criteria for a non complex classification under the framework of the MiFID II guidelines provided. Based on the ESMA guidelines, the fund is likely non-complex since derivative usage is for EPM and not central to the investment strategy. The fund also uses a physical replication method."
    }
}