{
    "leverage": false,
    "derivatives": false,
    "swaps": false,
    "inverse": false,
    "replication_method": "physical",
    "ucits": true,
    "type": "ETF",
    "complex_factors": [],
    "classification": "non-complex",
    "supporting_data": "The Rize Sustainable Future of Food UCITS ETF is classified as non-complex under MiFID II based on the following analysis: 1. Physical Replication: The fund uses physical replication (full replication) as confirmed in the fact sheet, which is a non-complex indicator. 2. No Leverage or Inverse Exposure: There is no mention of leverage, inverse exposure, or amplified returns in any of the documents. 3. No Synthetic Structures: There are no references to swaps, total return swaps, or derivative instruments used for replication or investment purposes. 4. Straightforward Investment Strategy: The fund invests in global equities related to sustainable food production, with no complex underlying assets or structured features. 5. UCITS Compliance: The fund is UCITS-compliant, which typically aligns with non-complex classifications. 6. Risk Profile: The risk rating of 6 (out of 7) is high but does not automatically trigger complexity under MiFID II. The risks are related to sector-specific factors (e.g., food and agriculture technology) and are clearly disclosed. 7. No Capital Protection: There are no capital guarantees or principal protection mechanisms. 8. Transparent Costs: The cost structure is simple, with no performance fees or complex fee arrangements. The only potential counterargument could be the thematic nature of the index, which might be less familiar to some retail investors. However, the fund's physical replication method and straightforward equity exposure outweigh this concern, leading to a non-complex classification.",
    "confidence": 95
}