Underlying Index Performance: GERD.XETRA tracks a specific index. Its price closely reflects the performance of the assets within that index. Upward or downward movements in the underlying index directly affect the ETF's price.

Supply and Demand: General market sentiment and investor demand for GERD.XETRA impact its price. Higher demand typically leads to price increases, while increased selling pressure can cause price decreases.

Currency Fluctuations: Since GERD.XETRA is traded in EUR, currency exchange rates between the EUR and currencies of the underlying assets can influence its price.

Management Fees and Expenses: The ETF's expense ratio and other associated costs slightly affect its return. Higher expenses can lead to a lower overall return, influencing investor perception and price.

Market Volatility: Periods of high market volatility can lead to wider price swings in GERD.XETRA, reflecting the increased uncertainty and risk aversion among investors.

Dividend Payments: Dividend distributions from the underlying assets of the index are passed to ETF holders. The timing and amounts of dividends can affect the price and attractiveness of GERD.XETRA.

Tracking Error: The difference between the ETF's performance and the underlying index's performance is known as tracking error. Significant tracking error can negatively influence the price of GERD.XETRA.

Interest Rates: Changes in interest rates can affect the valuation of underlying assets, particularly fixed-income securities if present in the index, indirectly impacting the ETF's price.

Regulatory Changes: New regulations or changes in existing regulations related to ETFs or the underlying assets can influence investor sentiment and price.

News Events: Major news events, especially those related to the industries or companies within the underlying index, can cause price fluctuations in GERD.XETRA.

Liquidity: Higher liquidity, easier for buy/sell, more stable price.

Competitor ETF performance: Relative to other funds.