Underlying Asset Performance: The price of FVCH.XETRA is heavily influenced by the performance of the Swiss Market Index (SMI), which it tracks. Positive SMI performance typically drives the ETF price up.

Supply and Demand: General market sentiment towards Swiss equities affects supply and demand for the ETF shares. Higher demand relative to supply pushes the price upwards, while increased supply and weaker demand exerts downward pressure.

Currency Fluctuations: As FVCH.XETRA is denominated in EUR and tracks Swiss stocks, the EUR/CHF exchange rate can impact the ETF price. A stronger EUR against the CHF typically increases the ETF price.

Interest Rates: Swiss interest rate movements, particularly changes made by the Swiss National Bank (SNB), can influence investor sentiment towards Swiss assets and consequently affect demand for FVCH.XETRA.

Expense Ratio and Tracking Error: The ETF's expense ratio reduces returns, while any deviations between the ETF's performance and the SMI's performance (tracking error) can lead to price differences.