{
    "type": "ETF",
    "ucits": true,
    "fund_name": "RIZE USA Environmental Impact UCITS ETF",
    "investment_objective": "To replicate the performance of the Foxberry SMS USA Environmental Impact USD Net Total Return Index, providing exposure to US companies developing innovative and impactful environmental solutions aligned with EU Sustainable Finance Taxonomy objectives.",
    "primary_asset_class": "Equity",
    "geographic_focus": "United States",
    "replication_method": "physical",
    "swaps": false,
    "derivatives": false,
    "leverage": false,
    "inverse": false,
    "complex_factors": "",
    "classification": "non-complex",
    "supporting_data": "The ETF is a UCITS-compliant equity ETF physically replicating the underlying index by investing directly in the constituent companies in similar proportions. There is no mention of synthetic replication, swap agreements, or derivative instruments used for investment purposes, only a possible limited use of financial derivative instruments (FDIs) for efficient portfolio management, which does not trigger 'derivatives' complexity. The fund does not employ leverage, inverse or amplified exposure. The underlying assets are equities of US companies focused on environmental impact themes, including micro, small, mid, and large caps, which may have higher volatility but are straightforward equity securities. There are no capital protection or structured features. The risk profile is medium-high (5 out of 7), reflecting equity market risks and exposure to smaller companies, but not complexity from derivatives or leverage. Costs are straightforward with a TER of 0.45%, no performance fees, and no swap or derivative fees. The PRIIPs KID does not include any comprehension warnings or complexity flags. The monthly factsheet confirms physical full replication and no use of swaps or synthetic structures. Therefore, under MiFID II criteria, this ETF is classified as non-complex."
}