EUN9.F is an ETF tracking the MSCI World Index. Constituent Stock Prices: The primary driver. EUN9.F's price directly reflects the aggregate performance of its underlying holdings, the companies within the MSCI World Index. If these companies' stock prices rise, EUN9.F's price will generally increase and vice versa. Currency Exchange Rates: Since the MSCI World Index includes companies from various countries, currency fluctuations can impact EUN9.F's price. A stronger Euro (relative to other currencies in the index) will negatively affect the Euro reported value of the ETF. Supply and Demand: Market forces of supply and demand influence EUN9.F's price. Higher demand than supply leads to a price increase, while higher supply than demand leads to a price decrease. Index Rebalancing: Periodic rebalancing of the MSCI World Index can cause EUN9.F to buy or sell certain stocks, affecting their prices and consequently, the ETF's price. Management Fees and Expenses: While not a direct driver, the fund's expense ratio slightly reduces the ETF's overall return, indirectly impacting its price over time.