Underlying Asset Performance: The ETF's price closely tracks the performance of the underlying Kenyan stocks it holds. Rising stock values increase the ETF's net asset value (NAV), driving up the price.

Supply and Demand: Higher demand for the ETF than available shares causes the price to rise above the NAV. Conversely, greater selling pressure pushes the price down.

Investor Sentiment: Positive investor outlook on the Kenyan economy and stock market leads to increased investment in the ETF, raising its price. Negative sentiment reduces investment and lowers the price.

Currency Fluctuations: Changes in the exchange rate between the Kenyan Shilling and other currencies (e.g., GBP) affect the ETF's price, especially for international investors.

Market Conditions: Broader market trends in global and emerging economies influence investor appetite for Kenyan equities and the ETF, impacting its price.

Political and Economic Stability: Political unrest or economic instability in Kenya can negatively impact investor confidence and reduce demand for the ETF, lowering its price.

Expense Ratio: The ETF's management fees and operating expenses reduce returns, indirectly impacting its price and attractiveness compared to similar ETFs.

Index Changes: Revisions to the underlying index that the ETF tracks, such as adding or removing stocks, can cause price adjustments as the ETF realigns its holdings.

Dividend Payments: Dividend payouts from the underlying Kenyan stocks contribute to the ETF's NAV and can influence its price around the ex-dividend date.