Underlying Index Performance: ETLS.XETRA tracks a specific index. Its price largely reflects the movements of the underlying assets within that index.

Supply and Demand: Like any traded security, ETF prices are influenced by supply and demand in the market. Increased demand typically drives the price up, while increased supply can lower it.

Expense Ratio and Tracking Error: The ETF's expense ratio, which covers management fees, impacts long-term returns. Tracking error, the difference between the ETF's performance and the index it follows, can also affect investor perceptions and pricing.

Market Sentiment: Overall market sentiment and investor confidence can influence ETF prices, especially during periods of uncertainty or volatility.

Currency Fluctuations: If the underlying assets are denominated in a different currency, exchange rate fluctuations can affect the ETF's price.

Arbitrage: Authorized participants (APs) play a role in keeping the ETF price aligned with its net asset value (NAV) through arbitrage mechanisms. Discrepancies between the ETF's price and NAV can create arbitrage opportunities.