Underlying Assets' Performance: The ETF price largely reflects the collective performance of its constituent stocks. If the underlying holdings rise, the ETF price generally follows suit, and vice versa.

Supply and Demand: Market dynamics of buying and selling pressures significantly influence the ETF's price. Higher demand tends to push the price up, while increased selling pressure can lower it.

Net Asset Value (NAV): NAV, calculated daily based on the underlying assets' value, serves as a theoretical benchmark. The ETF price usually fluctuates around this NAV.

Tracking Error: Discrepancies between the ETF's return and its benchmark index can impact the price, although 00865B.TW aims to minimize this error.

Management Fees and Expenses: The ETF's expense ratio, which covers operational costs, indirectly affects the price, as it reduces the overall return.

Market Sentiment: Overall investor confidence or fear in the broader market or specific sectors held by the ETF can sway the price.

Currency Fluctuations: Since this is a Taiwan-listed ETF, changes in the exchange rate between the New Taiwan Dollar and other currencies (if the underlying assets have exposure) can affect its price.