Global Supply Chain Pressures: Higher supply chain costs due to disruptions like port congestion or geopolitical events increase the expenses for companies included in the GSCE.US ETF, potentially lowering profitability and share prices.

Energy Prices: As the ETF likely holds energy-related companies, fluctuations in oil, gas, and other energy prices significantly impact their revenues and earnings, thus affecting the ETF's value.

Interest Rates: Rising interest rates can make borrowing more expensive for GSCE.US constituent companies, potentially slowing down expansion and affecting profitability, leading to lower ETF valuations.

Inflation: High inflation erodes consumer purchasing power and increases input costs for businesses, potentially reducing demand and profits for companies in the ETF and depressing its price.

Geopolitical Risks: Events such as political instability, trade wars, or military conflicts can disrupt supply chains and investor confidence, leading to volatility and potential decline in the GSCE.US ETF's price.