**Index Performance:** ELFW.F's price directly reflects the performance of its underlying index, Solactive L&G Enhanced ESG US Equities Index.

**Supply and Demand:** Market supply and demand for ELFW.F shares influence its price. High demand pushes prices up, while increased supply lowers them.

**ESG Factors:** ELFW.F focuses on ESG, so changing investor sentiment towards ESG principles can impact demand and price.

**US Equity Market:** Broad trends in the US equity market significantly influence ELFW.F, as it invests in US equities.

**Fund Flows:** Inflows into ELFW.F can increase demand and prices, outflows can decrease prices.

**Economic Conditions:** Macroeconomic factors like interest rates, inflation, and GDP growth influence US equity values and indirectly affect ELFW.F.

**Company Performance:** The financial performance of the companies held within ELFW.F affect its index and thus its price.

**Management Fees:** While indirectly, high management fees could make the ETF less attractive, impacting demand over time.

**Currency Exchange Rates:** As ELFW.F is a foreign listed ETF, currency exchange rates can influence the ETF's price.