Underlying Index Performance: The price of IQQ5.XETRA closely tracks the performance of its underlying index, the MSCI China A Onshore ex PRC ex Hong Kong. Movements in the index directly affect the ETF's NAV and market price.

Supply and Demand: Market forces of supply and demand play a crucial role. High demand can drive the price above its NAV, while increased selling pressure can lower it.

Currency Fluctuations: As the ETF invests in Chinese A-shares, changes in the exchange rate between the Euro and the Chinese Yuan impact the ETF's price.

Investor Sentiment: Overall investor sentiment towards Chinese equities influences the ETF's price. Positive sentiment can lead to increased investment and higher prices.

Economic Conditions in China: The health and performance of the Chinese economy have a significant impact on the companies included in the underlying index and thus, the ETF's price.

Geopolitical Events: Political and diplomatic events involving China can influence investor confidence and subsequently, the demand for and price of the ETF.

Expense Ratio and Trading Costs: The ETF's expense ratio and any associated trading costs (brokerage fees) can indirectly affect its performance and investor returns, influencing long-term price appreciation.