Underlying Asset Performance: The primary driver is the performance of the assets the ETF tracks. If the index or basket of stocks the SEC0.XETRA ETF replicates rises, its price generally increases and vice-versa. Supply and Demand: Market forces of supply and demand influence the ETF's price. Higher demand relative to supply leads to price increases, while increased supply compared to demand results in price declines. Expense Ratio: The ETF's expense ratio, the annual fee charged to manage the fund, indirectly affects price by reducing the fund's overall return, thus potentially impacting its attractiveness to investors. Market Sentiment: Overall investor sentiment towards the sectors or assets the ETF invests in can significantly impact its price. Positive sentiment generally drives prices up and negative sentiment down. Currency Fluctuations: For ETFs holding assets denominated in foreign currencies, exchange rate fluctuations can affect the ETF's price when converted back to the reporting currency, in this case, presumably EUR.