{
    "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 Environmental Impact 100 UCITS ETF is a UCITS-compliant, physically replicated ETF tracking a transparent equity index. The fund primarily invests directly in the underlying securities of the index, with no indication of synthetic replication, significant derivative use, leverage, or embedded complex structures. While the fund may use financial derivative instruments (FDIs) for efficient portfolio management (EPM), such as hedging or managing inflows/outflows, there is no evidence that derivatives are central to the investment strategy or introduce material counterparty, collateral, or structural complexity. The fund's risk profile reflects market volatility and exposure to small/micro-cap companies, but these are standard equity risks, not structural complexity. The fund is authorized in Ireland and regulated by the Central Bank of Ireland, with comprehensive, publicly available documentation. All these factors support a non-complex classification under MiFID II Article 25(4) and Delegated Regulation Article 57, as UCITS ETFs are presumed non-complex unless specific complex features are present, which are not evident here[1][2]."
}