Underlying Asset Performance: The fund's price is directly linked to the performance of the assets it holds, primarily European equities. Positive market movements drive up the fund's value.

Economic Conditions: Macroeconomic factors in Europe, such as GDP growth, inflation, interest rates, and unemployment, significantly influence the performance of European companies and thus the fund's price.

Market Sentiment: Investor confidence and overall market mood towards European equities impact demand and supply for the fund, affecting its price. Bullish sentiment can lead to price increases.

Currency Fluctuations: As the fund invests in European assets, currency exchange rates (specifically EUR against the fund's trading currency) play a role. A stronger EUR benefits investors.

Fund Flows: Significant inflows into the fund can push its price up due to increased demand, while large outflows can exert downward pressure.

Expense Ratio and Fees: The fund's management fees and operating expenses impact its net asset value (NAV) and, consequently, its price. Higher fees can slightly reduce returns.

Political and Geopolitical Events: Political instability, elections, or geopolitical tensions in Europe can create market uncertainty and negatively impact European stock prices and the fund's value.