{
    "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 RIZE USA Environmental Impact UCITS ETF is a passively managed UCITS ETF that primarily invests in the underlying securities of its benchmark index using physical replication. The fund may also use financial derivative instruments (FDIs) for efficient portfolio management (EPM), but there is no evidence that derivatives are integral to the investment strategy or that the fund uses synthetic replication, swaps, leverage, or inverse strategies. The fund's structure, risks, and objectives are transparent and typical of a standard equity UCITS ETF. The UCITS regulatory framework and physical replication support a non-complex classification under MiFID II, as long as derivative use is limited to EPM with minimal impact on the risk-return profile and the fund does not embed complex features such as contingent convertible bonds, swaps, or leverage beyond UCITS limits[1][2]. The fund's risk profile (rated 7/7) reflects market volatility of its underlying holdings, not structural complexity. No evidence of complex indices, contingent bonds, or other opaque features was found in the provided documentation."
}