Underlying Asset Performance: JJEH.XETRA's price mirrors the performance of the MSCI Japan EUR Hedged index it tracks. Positive index returns boost the ETF's price, while negative returns depress it.

Currency Exchange Rates: Since JJEH.XETRA hedges against EUR/JPY fluctuations, changes in these rates ideally should have a minimal direct impact. However, hedging effectiveness isn't perfect, so some residual currency risk exists.

Supply and Demand: High demand for JJEH.XETRA drives its price up, potentially creating a premium over its Net Asset Value (NAV). Conversely, increased selling pressure lowers the price, possibly leading to a discount to NAV.

Index Composition Changes: Adjustments to the MSCI Japan EUR Hedged index, such as adding or removing constituents, can influence JJEH.XETRA's price as the ETF realigns its holdings.

Management Fees and Expenses: The ETF's expense ratio, while relatively small, reduces overall returns. Higher fees translate to slightly lower performance compared to the underlying index.