Underlying Index Performance: E200.AU tracks the S&P/ASX 200 index, so its price closely reflects that index's movements. Upward index trends lead to higher ETF prices.

Supply and Demand: Basic economics dictate that increased demand for E200.AU will push its price up, while higher supply can lower it. Trading volume is an indicator of this.

Market Sentiment: Overall investor confidence or pessimism in the Australian stock market significantly influences E200.AU's price. Positive sentiment tends to increase prices.

Dividend Distributions: E200.AU distributes dividends from the companies it holds. The ETF's price may slightly decrease around the ex-dividend date as the dividend value is detached.

Management Fees and Expenses: Though not a direct short-term driver, fees can subtly impact returns over time, affecting the ETF's long-term price compared to the index.

Currency Fluctuations: Changes in the Australian dollar's value, especially compared to other currencies, influence returns for international investors, indirectly affecting demand.