Underlying Index Performance: EQLS.US tracks an index, so its price closely mirrors the performance of the index's constituent stocks.

Supply and Demand: Higher demand for EQLS.US shares typically pushes the price up, while increased selling pressure can cause it to fall.

Expense Ratio: The ETF's operating costs, deducted from its assets, impact its overall return and, consequently, its price relative to the underlying index.

Market Sentiment: Broad market trends and investor optimism or pessimism influence EQLS.US, along with other equity ETFs.

Economic Conditions: Factors like interest rates, inflation, and GDP growth can affect the performance of the companies within the index, influencing the ETF's price.

Currency Fluctuations: If the underlying index contains international stocks, currency exchange rates can impact the ETF's USD price.

ETF Trading Dynamics: Arbitrage between EQLS.US and its underlying holdings can cause small price deviations, keeping the ETF price aligned with the NAV.