Net Asset Value NAV: The ETF's price closely tracks the NAV, reflecting the underlying bond portfolio's market value. Changes in bond yields, credit spreads, and interest rates directly impact the NAV and ETF price.

Supply and Demand: Higher demand generally pushes the price up, while increased selling pressure can lower it. Market sentiment towards bond investments influences demand.

Interest Rate Movements: As a bond ETF, 00711B.TW is sensitive to interest rate changes. Rising rates usually cause bond prices to fall, decreasing the ETF's value, and vice versa.

Credit Risk: Changes in the creditworthiness of the bonds held within the ETF can affect its price. Downgrades could lead to price declines, while upgrades might boost it.

Expense Ratio & Trading Costs: The ETF's expense ratio and brokerage fees associated with trading shares impact the overall return and perceived value for investors.

Market Liquidity: The ease with which shares can be bought and sold affects the price. Lower liquidity can lead to wider bid-ask spreads and potential price fluctuations.

Economic Indicators: Economic data releases, such as inflation figures or GDP growth, can influence interest rate expectations and subsequently impact bond prices and the ETF.