{
    "ok": true,
    "_meta": {
        "isin": "IE0003UVYC20",
        "asset_scope": "UK_COMPLEX_ASSET",
        "policy_mode": "balanced",
        "policy_mode_description": "UCITS ETFs usually start from a non-complex baseline, but product-level complexity such as synthetic replication, swaps, leverage, inverse exposure, complex debt, commodity roll exposure, or comprehension warnings can override that baseline.",
        "classification_engine_version": "1.0.0",
        "prompt_version": "complex_asset_extract_v1",
        "captured_at_utc": "2026-06-13T20:49:24+00:00",
        "captured_unix": 1781383764
    },
    "classification": "complex",
    "confidence": 0.82,
    "review_required": false,
    "decision_rule_applied": "balanced_etf_core_derivatives_complex_rule",
    "product_policy_branch": "ETF",
    "fund_name": "JPM Global Equity Premium Income Active UCITS ETF - USD (dist)",
    "isin": "IE0003UVYC20",
    "type": "ETF",
    "ucits": true,
    "asset_class": "Equity",
    "replication_method": "physical",
    "signals": {
        "leveraged": false,
        "inverse": false,
        "derivatives_mentioned": true,
        "derivatives_core_strategy": true,
        "derivatives_epm_only": false,
        "swaps": false,
        "funded_swap": false,
        "unfunded_swap": false,
        "synthetic_replication": false,
        "counterparty_risk": false,
        "structured_payoff": false,
        "capital_protection": false,
        "commodity_futures_roll": false,
        "contango_backwardation": false,
        "coco_or_at1_exposure": false,
        "clo_exposure": false,
        "complex_index": false,
        "priips_comprehension_alert": false,
        "securities_lending": false,
        "illiquid_or_hard_to_value_underlying": false,
        "physical_allocated_commodity": false,
        "crypto_digital_asset": false
    },
    "complex_factors": [
        "Derivatives core to strategy"
    ],
    "non_complex_factors": [
        "UCITS fund",
        "Physical replication",
        "No leverage identified",
        "No inverse exposure identified"
    ],
    "consumer_understanding": {
        "risk_level": "elevated",
        "drivers": [
            "Derivatives appear core to the investment strategy",
            "UCITS ETF structure",
            "Physical replication or direct portfolio holdings"
        ],
        "plain_english_explanation": "The available evidence identifies features that may affect ordinary retail investor understanding. The assessment describes product-level mechanics only and does not judge the knowledge or experience of a specific client.",
        "appropriateness_note": "This is a product-level indicator of features that may affect general investor understanding. It does not determine whether the product is appropriate for a specific client and does not replace a client-specific appropriateness assessment."
    },
    "supporting_evidence": [
        {
            "source": "KIID",
            "signal": "derivatives_mentioned",
            "quote": "The Sub-Fund may, for investment purposes and efficient portfolio management purposes, use financial derivative instruments."
        },
        {
            "source": "KIID",
            "signal": "derivatives_core_strategy",
            "quote": "sell equity call options and/or equity index call options, to generate an income through the associated dividends and options premiums."
        },
        {
            "source": "PRIIPS_KID",
            "signal": "derivatives_core_strategy",
            "quote": "The Investment Manager seeks additional income through employing a financial derivative instrument (\"FDI\") overlay strategy which will be implemented by systematically selling equity call options and/or equity index call options which will typically have exposure to indices comprised of Benchmark Securities."
        },
        {
            "source": "KIID",
            "signal": "ucits",
            "quote": "JPMorgan ETFs (Ireland) ICAV \u2013 Global Equity Premium Income Active UCITS ETF"
        },
        {
            "source": "PRIIPS_KID",
            "signal": "ucits",
            "quote": "This product is a UCITS exchange traded fund or \"UCITS ETF\"."
        }
    ],
    "supporting_data": "ETF has core derivative exposure. Policy mode: balanced. Product type: ETF. UCITS signal identified. Replication method: physical.",
    "missing_data": [],
    "warnings": [],
    "sources": {
        "kiid": {
            "url": "https://oppl.ai/apy/doc_store/IE0003UVYC20_KIID.txt",
            "found": true,
            "http_code": 200,
            "bytes": 11528,
            "error": null
        },
        "priips_kid": {
            "url": "https://oppl.ai/eu_kiids/en_txt/IE0003UVYC20.txt",
            "found": true,
            "http_code": 200,
            "bytes": 16914,
            "error": null
        },
        "factsheet": {
            "url": "https://oppl.ai/apy/doc_store/IE0003UVYC20_FS.txt",
            "found": true,
            "http_code": 200,
            "bytes": 8879,
            "error": null
        },
        "market_data": {
            "url": "https://api.londonstockexchange.com/api/gw/lse/search/autocomplete?q=IE0003UVYC20&size=3",
            "found": true,
            "http_code": 200,
            "bytes": 622,
            "error": null
        }
    }
}