Fundamental Index Performance: IWX.US tracks the Russell 2000 Value Index. The index's performance directly impacts the ETF's price. Positive index returns lead to price increases, and vice versa.

Supply and Demand: Market forces influence IWX.US's price. Higher demand relative to supply pushes the price up, while increased selling pressure decreases it.

Expense Ratio: IWX.US's expense ratio, although low, can slightly impact returns over time, effectively reducing the potential price appreciation.

Management Fees: The fees associated with managing the ETF contribute to the operating costs, indirectly affecting its overall value and, consequently, its price.

Market Sentiment: Overall investor attitude towards small-cap value stocks impacts IWX.US. Bullish sentiment increases demand, driving prices up; bearish sentiment does the opposite.

Economic Conditions: Broad economic indicators (GDP growth, inflation, interest rates) influence the performance of companies within the Russell 2000 Value Index and therefore affect the IWX.US price.

Interest Rates: Higher interest rates can negatively impact the valuation of growth stocks and encourage investment into value stocks, thus affecting the fund.