Fund Holdings Performance: GGUS mirrors the Solactive Global Green Energy USD Index. The performance of the underlying renewable energy companies significantly impacts its price. Higher profits or growth expectations for these companies generally drive the ETF's price up.

Investor Sentiment: Overall market sentiment towards green energy and renewable energy stocks heavily influences demand for GGUS. Positive news or government policies supporting the sector can lead to increased investment and higher prices. Conversely, negative news or policy changes can decrease demand.

Currency Fluctuations: GGUS is priced in USD, while some of its holdings are in foreign companies. Currency exchange rates between the USD and other currencies (like EUR) can affect the ETF's price. A stronger USD may decrease the ETF's value.

Interest Rates: Changes in interest rates can impact the valuations of growth stocks, which often make up a significant portion of renewable energy companies. Higher interest rates can sometimes lead to lower valuations for growth stocks and thus impact the ETF price.

Supply and Demand: Like any other ETF, the price of GGUS is also determined by supply and demand. High demand from investors coupled with a limited supply can push the price up. Low demand can lead to price decline.