Factor affecting the price of FTSL.US: Index Performance: FTSL.US tracks the FTSE USA Index, so its price closely mirrors the index's performance. Positive index returns typically drive up the ETF's price, while negative returns cause it to decline. Supply and Demand: Like all ETFs, FTSL.US's price is influenced by market supply and demand. High demand relative to supply pushes the price up, and vice-versa. Underlying Holdings: The value of the ETF's underlying assets (the US stocks it holds) directly impacts its price. Increases in the values of the stocks lead to price increase of the ETF. Expense Ratio: While not directly affecting daily price, the ETF's expense ratio (annual management fee) can erode returns over time, which can indirectly impact investor interest. Market Sentiment: Overall investor confidence and market sentiment can affect demand for US equities, which in turn affects FTSL.US. Currency Fluctuations: Changes in currency exchange rates can have an indirect impact as it affects the valuation of underlying US assets for international investors.