Broadly speaking, the price of the EAFZ.AU ETF, which tracks developed market equities excluding Australia and New Zealand, is influenced by a few key factors: Equity Market Performance: The performance of the underlying equities in the index heavily dictates the ETF's price. Positive performance leads to price increases, and vice versa. Currency Fluctuations: As the ETF holds international assets, exchange rate variations between the Australian dollar and the currencies of the underlying assets affect the ETF's price. Investor Sentiment: Overall investor sentiment towards international equities impacts the demand for the ETF, thereby influencing its price. Positive sentiment increases demand and price. Supply and Demand: The basic principle of supply and demand applies. Increased buying pressure drives the price up, while increased selling pressure lowers it. Fund Management Fees: The ETF's management expense ratio (MER) can indirectly impact the price by affecting the fund's overall returns. Higher fees can reduce returns.