Emerging Market Performance: Broad performance of emerging economies significantly impacts AEEM.PA, as it tracks an index of those markets.

Geopolitical Events: Political instability, trade wars, or regulatory changes in emerging markets can drive price fluctuations.

Commodity Prices: As many emerging economies rely on commodity exports, price changes in commodities can affect their economic health and AEEM.PA.

Currency Fluctuations: Changes in emerging market currencies versus the Euro (or other major currencies) influence returns when translated back to Euro.

Interest Rate Changes: Interest rate policies enacted in emerging markets can impact their market valuations and therefore, AEEM.PA.

Investor Sentiment: Overall investor appetite for risk and specifically for emerging market assets affects demand and therefore the ETF's price.

Fund Flows: Large inflows or outflows from AEEM.PA can impact the price due to buying or selling pressure.

Index Composition Changes: Alterations in the underlying index AEEM.PA tracks affect its holdings and potentially its price.