NAV of Underlying Assets: 3SUR.XETRA's price reflects the net asset value of the underlying securities it holds. Increases/decreases in those securities' values directly influence the ETF's price.

Supply and Demand: Market dynamics, including buying and selling pressure for 3SUR.XETRA shares, impact its price. Higher demand can drive the price above its NAV, and increased selling pressure can lower it.

Market Sentiment: Overall investor confidence or pessimism towards the sectors or regions the ETF tracks can affect its price. Positive sentiment may lead to increased investment, raising the ETF's price.

Tracking Error: The difference between the ETF's performance and the performance of its underlying index or assets. Higher tracking error can make the price deviate from its expected value.

Expense Ratio: The annual fee charged by the ETF provider. While it doesn't directly change the daily price, a higher expense ratio impacts long-term returns and may affect investor demand.

Currency Exchange Rates: Since 3SUR.XETRA trades in EUR, fluctuations in the exchange rates between EUR and the currencies of the underlying assets can influence its price.

Geopolitical Events: Major global events, like political instability, economic crises, or regulatory changes, can impact investor sentiment and market conditions, thereby affecting the ETF's price.

Economic Data Releases: Economic indicators (e.g., inflation, unemployment) can influence the performance of the ETF's underlying assets, subsequently impacting the ETF's price.