Market Sentiment: Broad investor optimism or pessimism regarding emerging markets can significantly impact demand for IEM.AU, thus influencing its price.

Economic Conditions in Emerging Markets: Strong or weak economic growth, inflation rates, and political stability in countries IEM.AU invests in directly affect the performance of its holdings.

Currency Fluctuations: Changes in the exchange rates between the Australian dollar and the currencies of the emerging market countries where IEM.AU's underlying assets are located can impact returns.

Index Performance: IEM.AU tracks an underlying index; the performance of that index directly influences its Net Asset Value (NAV) and ultimately its market price.

Supply and Demand: Basic market forces of supply and demand for IEM.AU units traded on the ASX play a role in daily price fluctuations.

Expense Ratio and Management Fees: The costs associated with managing the ETF, including management fees and other expenses, reduce the overall returns and can affect its attractiveness relative to other options.

Geopolitical Events: Major geopolitical events, such as trade wars or political instability, in emerging markets can create uncertainty and impact investor confidence.

Interest Rates: Interest rate changes in both Australia and the emerging market countries can influence investment flows and impact the value of assets held by IEM.AU.