{
    "fund_name": "JPMorgan ETFs (Ireland) ICAV - EUR High Yield Bond Active UCITS ETF",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "High Yield Bonds",
        "Contingent Convertible Bonds",
        "Active Management"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication and does not employ leverage, inverse strategies, or swaps. It invests primarily in EUR-denominated below investment grade corporate debt securities, which are inherently higher risk but not necessarily complex. The presence of contingent convertible bonds (CoCos) introduces some complexity, but the overall structure remains straightforward for a high-yield bond fund. The active management strategy does not involve derivatives beyond efficient portfolio management, and the fund is UCITS-compliant, which typically aligns with non-complex classifications. The risk profile is clearly disclosed, and the fund is intended for long-term investors with a medium risk tolerance.",
    "confidence": 85
}