Underlying Asset Performance: The primary driver is the performance of the assets held within the fund. Positive performance of underlying stocks or bonds increases the fund's value, while negative performance decreases it.

Market Sentiment: Overall market sentiment, influenced by economic news, geopolitical events, and investor confidence, can affect demand for the fund and its price.

Interest Rates: Changes in interest rates, particularly if the fund holds bonds, can impact its value. Rising interest rates generally decrease bond prices, while falling rates increase them.

Expense Ratio and Fees: The fund's expense ratio and any associated fees reduce its returns, ultimately affecting its price relative to similar funds with lower costs.

Supply and Demand: The balance between the number of investors buying and selling fund shares impacts its price. High demand typically increases the price, while high selling pressure decreases it.

Currency Fluctuations: If the fund invests in assets denominated in foreign currencies, fluctuations in exchange rates can affect its value when translated back to the fund's base currency.

Fund Management Expertise: The skill and experience of the fund managers in selecting and managing the fund's investments can significantly influence its performance and price.

Economic Conditions: Macroeconomic factors such as inflation, GDP growth, and unemployment rates can impact the performance of the underlying assets and, consequently, the fund's price.