Underlying Index Performance: The primary driver is the performance of the underlying MSCI Emerging Markets Index, which EMIG tracks.

Supply and Demand: Increased demand for EMIG shares can push its price up, while increased selling pressure can lower it.

Expense Ratio: EMIG's expense ratio, while relatively low, slightly reduces returns compared to the index's gross performance.

Currency Fluctuations: Since EMIG holds assets in emerging markets, currency fluctuations can impact its price when converted back to Euro.

Market Sentiment: Overall investor sentiment towards emerging markets can influence EMIG's price, independent of fundamental factors.

Tracking Error: EMIG's price may deviate slightly from the index due to factors like fund expenses and sampling techniques.

Trading Volume & Liquidity: Higher trading volume generally leads to tighter bid-ask spreads and better price discovery for EMIG.

Geopolitical Risk: Events like political instability or trade wars in emerging markets can negatively affect EMIG's price.