Investor Sentiment: Broad market optimism or pessimism greatly impacts demand for ESMV, affecting its price.

Underlying Holdings Performance: The ETF's price is directly tied to the performance of the stocks it holds. Positive company earnings reports or favorable industry news can drive up the ETF's value.

Economic Conditions: Macroeconomic factors like inflation, interest rates, and GDP growth influence the attractiveness of value stocks. Strong economic growth may favor growth stocks, potentially dampening demand for ESMV.

Interest Rate Changes: Rising interest rates can negatively affect value stocks as their future earnings may be discounted more heavily, thus affecting the ETF's value.

Fund Flows: Significant inflows into the ETF typically increase its price, while outflows decrease it.

Expense Ratio and Management Fees: While not directly affecting daily price fluctuations, higher expense ratios and management fees can impact the ETF's long-term return and relative attractiveness.

Index Tracking Accuracy: The ETF strives to replicate the performance of its benchmark index. Deviations from this benchmark, due to tracking error, can affect the ETF's relative price.