What's the risk of XEON?

I have a substantial amount of money, that I want to have in the sidelines for about 6/12 months, it's most of my networth, 100k+ and need it for the next months so don't want to put it on VWCE / IWDA since it's fairly short term.

I've been thinking about XEON for a while (seems like a better option than T212 which seems sketchy due to CySEC etc). However, I see a lot of topics discussing the risk of it being "synthetic", is it actually a risk investment to put my entire networth there, or is it less than leaving it on VWCE?