Underlying Asset Performance: IGF.MX's price primarily reflects the performance of the Mexican stocks it holds. Strong Mexican equity market performance typically boosts the ETF's price.

Currency Fluctuations: The MXN/USD exchange rate significantly impacts IGF.MX. A stronger Mexican Peso increases the ETF's value for USD-based investors, and vice-versa.

Investor Sentiment: Overall market optimism or pessimism towards Mexican equities directly influences buying and selling pressure, affecting the ETF's price.

Interest Rates: Changes in Mexican interest rates can impact corporate earnings and economic growth, indirectly affecting the ETF's underlying stock values.

Economic Data: Key Mexican economic indicators like GDP growth, inflation, and unemployment influence investor confidence and the ETF's performance.

Political Stability: Political events and policy changes in Mexico can create uncertainty or confidence, driving investor behavior and impacting the ETF's price.