{
    "ucits": true,
    "type": "ETF",
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "complex_factors": "None identified",
    "classification": "non-complex",
    "supporting_data": "The JPM Global Research Enhanced Index Equity SRI Paris Aligned Active UCITS ETF is a UCITS-compliant ETF, which is automatically classified as non-complex under MiFID II Article 25(4)(a)(iv) unless it is a structured UCITS or fails the Article 57 criteria[1]. The fund's investment policy is to actively invest in a portfolio of global equities, with a focus on sustainable investments and ESG criteria, and it does not seek to track or replicate its benchmark index. The fund may use derivatives for efficient portfolio management (EPM) purposes, but there is no indication that derivatives are integral to the investment strategy or that the fund uses synthetic replication, swaps, leverage, or inverse strategies. The risks disclosed are typical of equity investing (market, currency, liquidity, ESG exclusion risk), and there is no mention of complex structures, embedded derivatives, or contingent convertible bonds. The fund's structure, objectives, and risks are transparent and should be readily understandable by a retail investor with basic knowledge. Therefore, the ETF does not exhibit features that would override the UCITS presumption of non-complexity under MiFID II[1]."
}