Underlying Index Performance: EUDG.US tracks an index of European dividend growth stocks. The ETF's price heavily depends on the collective performance of these holdings.

Currency Fluctuations: The ETF invests in European stocks, so changes in the Euro/USD exchange rate impact the ETF's USD price.

Interest Rate Changes: European and US interest rate policies affect company valuations and investor sentiment, thus impacting the ETF's price.

Dividend Yields: Changes in the dividend yields of the underlying European stocks influence the ETF's attractiveness and price.

Market Sentiment: Overall investor optimism or pessimism towards European markets can drive demand and price fluctuations in EUDG.US.

Expense Ratio: The ETF's management fee, while minor, affects its returns and may subtly influence its relative price compared to similar ETFs.

Supply and Demand: Simple supply and demand dynamics within the ETF market itself also play a role in its price.