Underlying Index Performance: ACWL tracks a global equity index. Its price directly reflects the performance of the companies within that index. Broad market movements impact ACWL's price.

Supply and Demand: Market demand for ACWL shares influences its price. Increased buying pressure drives the price up, while selling pressure pushes it down. ETF creation/redemption mechanisms help balance supply.

Currency Fluctuations: As a global ETF, currency exchange rates between the British Pound and the currencies of the underlying assets affect its price. A stronger Pound can decrease the value.

Expense Ratio: The ETF's operating costs, known as the expense ratio, indirectly affect its price. Higher expenses can lead to slightly lower returns compared to the benchmark index over time.

Trading Activity and Liquidity: High trading volume and tight bid-ask spreads typically indicate good liquidity, making it easier to buy and sell ACWL shares at fair prices. Lower liquidity can lead to price volatility.

Investor Sentiment: Overall investor optimism or pessimism about global markets can affect demand for ACWL, driving its price up or down respectively. News and economic outlook affect sentiments.