Global Equity Market Performance: IQQM.F tracks the MSCI World ex Australia Index, so broad global stock market movements significantly impact its price. A rising global market generally lifts IQQM.F, while a falling market pulls it down. Currency Fluctuations: As IQQM.F is likely denominated in a currency other than AUD, changes in the AUD exchange rate relative to that currency will affect its price when viewed in AUD terms. A weakening AUD makes the ETF more expensive, and a strengthening AUD makes it cheaper. Index Composition Changes: Periodic rebalancing of the MSCI World ex Australia Index leads to changes in the ETF's holdings. These changes can influence the ETF's price, although the impact is usually small. Supply and Demand for IQQM.F Units: High demand for the ETF can drive its price above its net asset value (NAV), while high selling pressure can push it below. This effect is typically temporary due to arbitrage mechanisms. Fund Management Fees and Expenses: The ETF's expense ratio directly reduces its returns, affecting its overall price performance relative to the underlying index.