Underlying Index Performance: EL44.F's price closely tracks the performance of its underlying index. A rise in the index leads to a rise in the ETF price, and vice versa. Supply and Demand: High demand for EL44.F can drive up its price, while increased selling pressure lowers it. Net Asset Value (NAV): The NAV reflects the total value of EL44.F's holdings. Market price deviations from NAV can occur, creating arbitrage opportunities. Expense Ratio: The ETF's expense ratio, representing annual operating costs, indirectly impacts its price by reducing overall returns. Market Sentiment: Broad market sentiment, whether bullish or bearish, influences investor activity and subsequently affects EL44.F's price. Currency Fluctuations: If EL44.F holds international assets, exchange rate changes can impact its value when converted back to the base currency. Dividend Payments: Dividends paid by the underlying assets will increase the NAV but will likely decrease after the payment. Interest rates: Interest rates affects the discount rates and the price of the underlying asset.