{
    "type": "ETF",
    "ucits": true,
    "fund_name": "Rize Circular Economy Enablers UCITS ETF",
    "investment_objective": "Replicate the performance of the Foxberry SMS Circular Economy Enablers USD Net Total Return Index, providing exposure to global companies contributing to the transition to a circular economy.",
    "primary_asset_class": "Equity",
    "geographic_focus": "Global Equities",
    "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 that physically replicates the Foxberry SMS Circular Economy Enablers Index by investing directly in the underlying companies in similar proportions. There is no mention of synthetic replication, swap agreements, or derivative instruments used as part of the investment strategy. The fund does not employ leverage or inverse exposure. The risk profile is medium (4 out of 7 in PRIIPs KID, 7 out of 7 in KIID but driven by underlying equity volatility and small/micro cap exposure rather than structural complexity). The fund invests in liquid equities globally, with no complex structured products or contingent capital instruments. Costs are straightforward with a single ongoing charge 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 derivatives or swaps. The complexity arises only from the thematic nature of the index and the inclusion of smaller companies, which may increase volatility and liquidity risk but does not make the product complex under MiFID II definitions."
}