Fundamentally, the price of the 513880.SHG ETF is primarily driven by the Net Asset Value (NAV) of its underlying holdings. These are the A-shares listed on the Shanghai Stock Exchange included in the CSI Overseas China Internet 50 Index.

Underlying Stock Prices: The prices of the individual Chinese internet companies in the CSI Overseas China Internet 50 Index directly impact the ETF's value. Any movement in these stock prices will be reflected in the NAV and subsequently the ETF price.

Supply and Demand: Market demand for the ETF units versus the supply available affects the market price. Higher demand may lead to a premium over NAV, while increased selling pressure can cause a discount.

Index Tracking Efficiency: How well the ETF replicates the CSI Overseas China Internet 50 Index affects its price. Tracking errors, caused by fees, expenses, or sampling strategies, can lead to deviations from the index performance and thus impact the ETF price.

Investor Sentiment: Overall investor sentiment towards Chinese internet stocks and the broader Chinese market significantly influences the ETF's demand and therefore its price. Positive sentiment generally leads to higher prices, while negative sentiment can depress them.

Currency Fluctuations: The ETF's value is also susceptible to changes in the exchange rate between the Chinese Yuan (CNY) and the trading currency, as the underlying assets are priced in CNY. A stronger CNY relative to the trading currency will increase the ETF's value, and vice-versa.

Regulatory Changes: Changes in regulations affecting Chinese internet companies or foreign investment in China can significantly impact investor confidence and subsequently the ETF's price. Uncertainty surrounding regulatory policies can lead to increased volatility.

Global Economic Conditions: Broad macroeconomic factors, such as global economic growth, inflation, and interest rate changes, can influence investor risk appetite and capital flows, impacting the demand for and price of the ETF.