Underlying Index Performance: IUSQ.XETRA tracks the MSCI USA SRI index, so the price of the ETF is highly dependent on the performance of the underlying US stocks in that index. Supply and Demand: General market forces, like investor demand for US equities and SRI investments, will push the price of the ETF higher or lower. Increased buying drives prices up, increased selling pushes them down. Expense Ratio: While not a direct price driver, the ETF's management fee (expense ratio) indirectly affects returns. Higher expenses mean slightly lower overall performance compared to the index. Currency Fluctuations: As IUSQ.XETRA is a EUR-denominated ETF tracking US stocks, EUR/USD exchange rate changes can impact returns for European investors. Tracking Error: Deviations between the ETF's performance and the index's return, due to factors like sampling or fees, can create slight price discrepancies. Market Sentiment: Overall investor sentiment towards the US stock market can affect demand for IUSQ.XETRA, influencing its price.