{
    "fund_name": "JPM Global Equity Multi-Factor UCITS ETF - USD (acc)",
    "type": "ETF",
    "ucits": true,
    "replication_method": "physical",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "complex_factors": [
        "Multi-factor index tracking",
        "Global equity exposure"
    ],
    "classification": "non-complex",
    "supporting_data": "The ETF uses physical replication to track the JP Morgan Diversified Factor Global Developed (Region Aware) Equity Index. There is no mention of synthetic replication, swaps, or leverage in the KIID or PRIIPs documents. The index is a multi-factor equity index, which is a common and transparent strategy. The fund's risk profile (category 6) is consistent with global equity exposure. The use of derivatives is limited to efficient portfolio management purposes, which is typical for UCITS-compliant ETFs and does not trigger complexity under MiFID II. The PRIIPs KID does not contain a comprehension warning, further supporting the non-complex classification.",
    "confidence": 90
}