Underlying Index Performance: EUNW.F's price directly reflects the performance of its underlying index, the MSCI World Net Return index. Positive index movement leads to a higher ETF price, negative movement to a lower price. Supply and Demand: Market demand for EUNW.F shares versus their availability influences its price. High demand typically increases the price, while increased supply may depress it. Currency Fluctuations: As EUNW.F holds international assets, currency exchange rates between the Euro and other currencies (especially USD) impact the ETF's value. A stronger Euro can reduce returns, while a weaker Euro may increase them. Expense Ratio: While not directly affecting daily price fluctuations, the ETF's expense ratio reduces long-term returns, impacting its attractiveness and potentially its price. Market Sentiment: Overall investor optimism or pessimism towards global equities affects demand for EUNW.F, influencing its price independent of the underlying index's specific performance. Tracking Error: The degree to which EUNW.F deviates from its benchmark index impacts investor confidence and demand, potentially affecting the ETF's price relative to the index. Economic Conditions: Global economic factors, such as growth rates, inflation, and interest rates in various countries, affect the performance of companies within the MSCI World index, and therefore, EUNW.F's price.