Factor 1: Underlying Asset Performance: The fund's price directly reflects the performance of the assets it holds, primarily European stocks. If these stocks rise, the fund's price increases and vice versa. Factor 2: Market Sentiment: Overall investor mood towards European markets influences the fund's valuation. Positive sentiment pushes prices up, while negative sentiment causes declines. Factor 3: Economic Conditions: Macroeconomic factors like GDP growth, inflation, and interest rates in Europe impact corporate earnings and, consequently, stock prices within the fund. Factor 4: Fund Management Strategy: The fund manager's investment decisions, including stock selection and asset allocation, affect returns and thus the fund's net asset value (NAV). Factor 5: Currency Fluctuations: As the fund invests in European assets, exchange rate movements between the Euro and the fund's base currency can impact returns for non-Euro based investors. Factor 6: Supply and Demand: High demand for the fund, exceeding available units, can lead to a premium over NAV, while excess supply can cause a discount.