Underlying Asset Performance: The price of SPF9.XETRA ETFs is primarily determined by the performance of the underlying assets it tracks, typically S&P 500 stocks.

Supply and Demand: Market supply and demand for the ETF units themselves influence price fluctuations, independent of the underlying assets.

Expense Ratio: The ETF's expense ratio, which is the annual cost of managing the fund, impacts the overall return and indirectly affects its price.

Currency Fluctuations: Since it is traded on XETRA, exchange rate changes between the Euro and the currencies of assets held in the fund can affect price.

Market Sentiment: General investor sentiment towards the stock market and economic outlook influences the ETF's price.

Dividend Payments: Dividend payments from the underlying stocks affect the ETF’s price, typically leading to a slight decrease on the ex-dividend date.

Trading Volume: Higher trading volume usually indicates greater liquidity and can lead to tighter bid-ask spreads, improving price discovery.