Emerging Market Performance: FDEM.AU invests in emerging markets. Their overall economic growth, political stability, and market sentiment directly impact the ETF's value.

Currency Fluctuations: As the ETF invests in overseas assets, currency exchange rates between the Australian dollar and those markets' currencies influence returns.

Interest Rate Changes: Interest rate policies in emerging markets, as well as global interest rate trends, can affect the attractiveness and valuation of investments held by the ETF.

Commodity Prices: Many emerging economies are commodity-dependent. Fluctuations in commodity prices impact the ETF's performance, particularly if it holds companies in those sectors.

Investor Sentiment: Global risk appetite and investor sentiment towards emerging markets influence demand for FDEM.AU, affecting its price.

ETF Flows: Inflows and outflows of funds from FDEM.AU affect its market price, driven by investor demand.

Index Tracking Accuracy: FDEM.AU aims to track a specific index. Its tracking accuracy influences how closely its performance mirrors the index, affecting its price relative to the index.