Underlying Asset Performance: The primary driver is the performance of the underlying assets that the FRNH.XETRA ETF tracks. If the assets increase in value, the ETF's price will generally increase, and vice versa.

Supply and Demand: Market demand for the ETF units impacts its price. Higher demand, relative to supply, leads to price increases, while lower demand results in price decreases.

Interest Rates: Changes in interest rates can influence investor sentiment and asset valuations, thereby affecting the ETF's price. Rising rates may reduce demand for assets and lower prices.

Economic Conditions: Overall economic health influences investor risk appetite and the profitability of companies within the ETF's portfolio. Strong economic growth generally supports higher ETF prices.

Currency Exchange Rates: Fluctuations in currency exchange rates affect the value of international assets held by the ETF, especially if the ETF invests in securities denominated in other currencies.