Global Equity Market Performance: AQWG tracks global equities, so the performance of major markets like the US, Europe, and Asia significantly impacts its price.

Currency Fluctuations: As AQWG likely holds assets denominated in various currencies, changes in exchange rates (e.g., GBP vs. USD, EUR, JPY) can affect the ETF's value when translated back to GBP.

Investor Sentiment: Overall market optimism or pessimism towards global equities influences demand for AQWG, driving its price up or down respectively. Trading volume is also correlated.

Interest Rate Changes: Rising interest rates, especially in major economies, can make bonds more attractive relative to equities, potentially leading to outflows from ETFs like AQWG.

Economic Data Releases: Key economic indicators (GDP growth, inflation, employment) can sway investor expectations about corporate earnings and overall market prospects, impacting AQWG's price.

Geopolitical Events: Global events such as trade wars, political instability, or major international crises can create uncertainty and volatility, impacting stock market sentiment and AQWG's price.

Index Tracking Accuracy: Any deviations between AQWG's performance and its underlying index can create tracking error which leads to a premium or discount in the ETF’s trading price.

Supply and Demand for ETF Shares: Imbalance between buyers and sellers of AQWG shares, influenced by market conditions, can cause price fluctuations irrespective of the underlying asset values.