Underlying Index Performance: DDM.US is a leveraged ETF, its price heavily depends on the daily performance of the S&P 500 index. A positive movement in the S&P 500 results in a magnified positive movement in DDM.US, and vice versa.

Leverage Factor: As a 2x leveraged ETF, DDM.US aims to provide twice the daily return of the S&P 500. This leverage amplifies both gains and losses, making it more volatile.

Market Volatility: Higher market volatility generally increases the trading range of DDM.US, leading to potentially larger price swings both up and down.

Interest Rates: Interest rates affect the cost of leverage. Higher rates can increase the expense ratio of the ETF, slightly impacting its performance.

Trading Volume & Liquidity: High trading volume indicates strong investor interest, which can lead to more efficient price discovery and potentially tighter bid-ask spreads. Low liquidity can increase price volatility.

Expense Ratio & Management Fees: DDM.US has an expense ratio. These fees reduce the overall return of the ETF.