Underlying Asset Performance: The price of SPPD.XETRA is primarily driven by the performance of the underlying securities it holds, typically stocks of companies in a specific sector or index.

Supply and Demand: Market demand for SPPD.XETRA shares relative to their supply impacts its price. Higher demand pushes the price up, while increased supply can lower it.

Net Asset Value (NAV): The ETF's NAV, which represents the total value of its holdings minus liabilities, influences its market price. Significant discrepancies between the NAV and market price can create arbitrage opportunities.

Currency Exchange Rates: Since it's traded on XETRA, currency fluctuations, particularly between the Euro and the currencies of the underlying assets, can affect the price.

Market Sentiment: Overall investor sentiment towards the specific sector or market represented by the ETF's holdings plays a significant role.

Expense Ratio: The ETF's management fees and operating expenses, reflected in the expense ratio, indirectly affect the price by reducing returns.

Interest Rates: Changes in interest rates can impact the valuation of companies held in the ETF, thereby affecting its price.

Economic Data: Macroeconomic indicators like inflation, GDP growth, and employment figures can influence investor sentiment and the performance of underlying assets.