Underlying Index Performance: DXD.MX is designed to deliver the inverse (-2x) daily performance of the S&P/BMV IPC Index. Therefore, the price fluctuations of the underlying index directly impact DXD.MX's price, but in the opposite direction and with double the magnitude, on a daily basis.

Leverage and Compounding: Due to its leveraged nature, DXD.MX's performance can deviate significantly from the inverse performance of the S&P/BMV IPC Index over longer periods due to compounding effects. This deviation affects its price.

Trading Volume and Liquidity: High trading volume and liquidity generally lead to tighter bid-ask spreads and more efficient price discovery. Low liquidity can result in wider spreads and price discrepancies, affecting the ETF's price.

Supply and Demand: Basic supply and demand principles apply. Increased demand for DXD.MX, often driven by expectations of a decline in the S&P/BMV IPC Index, can push its price higher, and vice versa.

Expense Ratio: The expense ratio, while not directly affecting daily price movements, reduces the overall return of the ETF over time. A higher expense ratio effectively eats into profits, making it less attractive and potentially affecting its long-term price relative to similar ETFs.

Market Sentiment: Overall market sentiment towards the Mexican stock market and risk appetite for leveraged products can influence demand for DXD.MX, thereby affecting its price.

Currency Exchange Rates: Fluctuations in the MXN/USD exchange rate can impact the ETF's price, especially for investors holding the ETF in a different currency.

Rebalancing Costs: The ETF needs to rebalance its portfolio daily to maintain the desired leverage ratio. The costs associated with this rebalancing can affect the ETF's performance and price.

Interest Rates: Interest rates can affect the cost of borrowing associated with maintaining the leveraged position, indirectly impacting the ETF's performance and, consequently, its price.