{
    "name": "JPM EUR IG Corporate Bond Active UCITS ETF - EUR (acc)",
    "type": "ETF",
    "ucits": true,
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The ETF is a physically replicated, actively managed corporate bond fund with no leverage, inverse exposure, or synthetic replication. It primarily invests in investment-grade Euro-denominated corporate debt securities and uses derivatives only for efficient portfolio management (EPM), not as a core strategy. The risk profile is moderate (category 4), and there are no indications of complex structures like swaps, leverage, or illiquid assets. The fund promotes ESG characteristics but does not employ complex financial instruments. The KIID and factsheet do not mention any features that would classify it as complex under MiFID II.",
    "confidence": 95,
    "risk_level": 4,
    "benchmark": "Bloomberg Euro Corporate Index",
    "esg_focus": true,
    "counterparty_risk": false,
    "liquidity_risk": false,
    "capital_protection": false,
    "structured_features": false,
    "additional_notes": "The ETF is classified as non-complex due to its straightforward investment strategy, physical replication, and lack of leveraged or synthetic elements. The use of derivatives is limited to EPM, which does not introduce complexity under MiFID II guidelines. The fund's risk profile and transparency further support this classification."
}