Underlying Index Performance: NDXH.PA aims to mirror the NASDAQ 100 index. Therefore, movements in the index directly impact the ETF's price. When the NASDAQ 100 rises, NDXH.PA is expected to increase, and vice versa.

Supply and Demand: Market forces play a significant role. High demand for NDXH.PA can drive its price above its net asset value, while increased selling pressure can cause it to trade at a discount.

Currency Exchange Rates: Since NDXH.PA is traded in Euros, the Euro to USD exchange rate affects its price. A stronger Euro relative to the USD would decrease the ETF's price, while a weaker Euro would increase it.

Expense Ratio and Tracking Error: Although usually small, the expense ratio charged by the ETF and its tracking error (the difference between the ETF's performance and the index's performance) can subtly influence its price over time.

Market Sentiment: Overall investor confidence and risk appetite influence the demand for growth stocks, which are heavily represented in the NASDAQ 100, thereby affecting NDXH.PA's price.