Underlying Index Performance: The primary driver is the performance of the MSCI Europe ESG Screened Index, which ESGE tracks. Positive index returns typically increase the ETF's price, and vice versa. Supply and Demand: Market forces of supply and demand for ESGE shares influence its price. High demand can push the price above its net asset value (NAV), while high selling pressure can depress it. Net Asset Value (NAV): The NAV represents the total value of the ETF's holdings minus liabilities, divided by the number of outstanding shares. ESGE's price generally stays close to its NAV. Investor Sentiment: Broad market sentiment and investor confidence in European equities and ESG-focused investments can impact demand for ESGE, affecting its price. Currency Fluctuations: As ESGE holds European stocks, currency fluctuations between the Euro and other currencies (e.g., USD) can affect its price when viewed in those currencies. Expense Ratio: While not a direct price driver, the ETF's expense ratio (fees) impacts its long-term return and perceived value, indirectly influencing investor demand.