How to Buy
          RIZE

          Circular Economy
          Enablers

          UCITS ETF (CYCL)

          Key Documents

          FUND SUMMARY

          The Rize Circular Economy Enablers UCITS ETF (CYCL) seeks to invest in the leading enabling companies that potentially stand to benefit from our transition to a more circular economy. These are companies that view the shift to a circular economy as a means of achieving truly sustainable growth by decoupling productive economic activities from the linear consumption of the Earth’s finite resources and thereby reducing pressure on our ecosystems and environment. These are companies that are making a substantial contribution to “The Transition to a Circular Economy” objective of the EU Taxonomy of Sustainable Activities, either through their own Circular Products and Services or through Enabling Products and Services that support (i.e. enable) other companies (i.e. industry practitioners) to enhance circularity within their own business models. CYCL seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the Foxberry SMS Circular Economy Enablers Index.

          Key Information

          • AUM ($USD): 2,129,438
          • TER: 0.45%
          • ISIN: IE000RMSPY39
          • Base Code: CYCL
          • SFDR Classification: Article 9
          • MSCI ESG Rating: A

          INVESTMENT CASE

          The impact of our throwaway culture on the planet is profound. We extract raw materials from the Earth, use them to create products and then dispose of those products once they are no longer useful or desired. This linear economic model of “take-make-waste” is no longer sustainable and our transition to a more circular one must rapidly accelerate. The circular economy is a restorative and regenerative economic system that aims to keep resources in use for as long as possible, eliminate waste and pollution and create value for businesses and communities. A circular economy requires significant systemic change across all sectors of the economy, including design, use and recovery. Fortunately, such change also brings about new opportunities for innovation, growth and sustainability. To achieve a greener, fairer future, we must reduce waste and preserve the world’s finite resources by keeping materials in use through circular processes. Advanced technologies and techniques are already helping an array of industries make reuse and recycling more central to their operations. Our pioneering investment strategy and ETF – Europe’s first Circular Economy Enablers ETF – provides investors with exposure to companies that are driving the circular economy forward by developing new business models, technologies and systems that enable the transition to a more sustainable, resource-efficient and regenerative economy. These are companies that are creating a future that is not only circular, but also prosperous and resilient.

          WHY CYCL?

          • Favourable Growth Prospects

            CYCL is Europe’s first circular economy enablers ETF, and provides investors with exposure to companies that stand to benefit from our transition to a circular economy.

          • Powered by Sustainable Market Strategies®

            CYCL is purpose-built in collaboration with Sustainable Market Strategies, an independent ESG intelligence firm based in Montreal, Canada, and leverages their unique insights and proprietary classification system of companies that are aligned with “The Transition to a Circular Economy” objective of the EU Taxonomy for Sustainable Activities.

          • Unconstrained Approach

            CYCL’s composition transcends classic sector, size and geographic classifications by tracking a global theme.

          • ETF Efficiency

            In a single trade, CYCL delivers access to dozens of companies that are favourably positioned to ride the tailwinds of the circular economy enablers theme.

          Thematic Classification

          CYCL invests in companies within the 4 circular economy business models of the SMS Circular Economy Enablers thematic classification addressing primary linear challenges across 7 Key Product Value Chains which have been inspired from an anthology of circular economy literature published by the European Commission. The classification was built in partnership with sustainability experts Sustainable Market Strategies and is an enabling taxonomy designed for the investment and research communities with the aim of identifying companies that are making a substantial contribution to “The Transition to a Circular Economy” objective of the EU Taxonomy. Each company is assessed for its relative contribution based on the extent to which it provides its own enabling Circular Products and Services or Enabling Products and Services that support (i.e. enable) other companies (i.e. industry practitioners) to enhance circularity within their own business models.

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          CIRCULAR ECONOMY ENABLERS

          Circular Use

          Circular Design and Production

          Circular Value Recovery

          Circular Support

          Performance

          CHART (%)
          TABLE (%)
          RIZE CIRCULAR ECONOMY ENABLERS UCITS ETF
          FOXBERRY SMS CIRCULAR ECONOMY ENABLERS INDEX

          Capital at risk. Past performance is not a reliable indicator of future results. The value of your investment and income generated will vary, your initial investment amount cannot be guaranteed. The return of your investment may increase or decrease as a result of currency fluctuations.

          As of
          Cumulative ETF Index Tracking Difference
          Year to date
          1 month
          3 months
          6 months
          1 year
          Inception

          Capital at risk. Past performance is not a reliable indicator of future results. The value of your investment and income generated will vary, your initial investment amount cannot be guaranteed. The return of your investment may increase or decrease as a result of currency fluctuations.

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          Top 10 Holdings

          Name ISIN Weight CCY
          KADANT INC COMUS48282T10434.28%USD
          SMITH(DS) ORD GBP0.10GB00082201123.96%GBP
          USS CO LTD NPVJP39441300083.9%JPY
          BADGER METER INC COMUS05652510813.8%USD
          HERC HLDGS INC COMUS42704L10443.66%USD
          UNIFIRST CORP MASS COMUS90470810403.66%USD
          WATTS WATER TECHNOLOGIES INCUS94274910253.65%USD
          UNITED RENTALS INC COMUS91136310903.62%USD
          CINTAS CORP COMUS17290810593.59%USD
          KURITA WATER INDUSTRIES NPVJP32700000073.55%JPY

          Full Fund Holdings

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          Fund Details

          Net Assets USD 2,129,438
          NAV per share 5.5057
          Shares Outstanding 386,771
          Total Expense Ratio 0.45%
          Inception 24/05/2023
          ISIN IE000RMSPY39
          Base Code CYCL
          Base Currency USD
          Index Name Foxberry SMS Circular Economy Enablers Index / FXBYCYCL
          Thematic Classification SMS Circular Economy Enablers Thematic Classification
          Index Replication Method Physical – full replication
          Income Treatment Accumulating
          No. of holdings 33
          UCITS Yes
          Domicile Ireland
          Issuer ARK Invest UCITS ICAV
          Promoter ARK Invest International Ltd
          Manager IQ EQ Fund Management (Ireland) Limited
          Investment Manager IQ EQ Fund Management (Ireland) Limited
          Depositary / Custodian Northern Trust Fiduciary Services (Ireland) Limited
          ISA Eligible (UK) Yes
          SIPP Eligible (UK) Yes
          Reporting Fund Status (UK) Yes
          Equity Fund (DE) Yes
          SFDR Classification Article 9

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          Registrations

          • Austria
          • Denmark
          • Finland
          • Germany
          • Ireland
          • Italy
          • Luxembourg
          • Netherlands
          • Norway
          • Spain
          • Sweden
          • Switzerland
          • United Kingdom

          Listings

          Exchange Currency Listing Date SEDOL Bloomberg Ticker RIC
          Deutsche Börse Xetra EUR 31-May-23 BPVDV21 CIRC GY CIRCG.DE
          London Stock Exchange USD 31-May-23 BNYD351 CYCL LN CYCL.L
          London Stock Exchange GBP 31-May-23 BNYD3M8 CIRC LN RICIRC.L
          SIX Swiss Exchange CHF 05-Mar-24 BNYD3N9 CYCL SE CYCL.S

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          Research & Insights

          Read More

          Fund Documents

          All Other Documents

          Risks

          The Fund may be subject to the risks associated with (1) companies that provide products and services that are circular in nature and/or directly contribute to an improvement in the state of the natural environment (for example, companies involved in recycling activities may be negatively impacted by weakened demand for their services as a result of waning government support for circular initiatives in the future, or, conversely, may be negatively impacted by increased competition as circular economy initiatives gain traction) and/or (2) companies that provide product and services that support (i.e., enable) other companies (i.e., industry practitioners) to enhance circularity within their own business models (for example, such enabling company might be exposed to the risks of weakening demand from companies from the companies/industries that they provide enabling services to due to idiosyncratic risks and economic challenges facing those particular companies/industries.

          Some companies may be smaller and less experienced companies, with limited product lines, markets, or financial resources and fewer experienced management or marketing personnel. They may experience extreme price and volume fluctuations that are often unrelated to their operating performance.

          The Index is typically comprised of a mix of micro, small, mid, and large capitalisation companies. Micro and small capitalisation companies may be more vulnerable to adverse business or economic events than larger, more established companies and may underperform other segments of the market or the equity market as a whole. Securities of micro and small capitalisation companies generally trade in lower volumes, are less liquid, and are often more vulnerable to market volatility and greater and more unpredictable price changes than larger capitalisation stocks or the stock market as a whole.

          Other: (1) Third party service providers (such as the ICAV’s depositary) may go bankrupt and fail to pay money due to the Fund or return property belonging to the Fund. (2) If the Index provider stops calculating the Index or if the Fund’s license to replicate the Index is terminated, the Fund may have to be closed. (3) It may not always be possible to buy and sell the Fund’s Shares on a stock exchange or at prices closely reflecting the Net Asset Value. (4) There is no capital guarantee or protection on the value of the Fund and investors can lose all the capital invested in the Fund. (5) Please refer to the “Risk Factors” section of the ICAV’s Prospectus and the Fund Supplement.

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