Underlying Asset Performance: SPPW.F's price heavily relies on the performance of the underlying stocks it holds, particularly the largest holdings.

Currency Exchange Rates: As a fund potentially investing in foreign assets, currency fluctuations between the Euro and the currencies of those assets can significantly impact the ETF's price.

Investor Demand and Sentiment: Increased demand for the ETF can drive its price higher, while negative sentiment can lead to price declines due to increased selling pressure.

Interest Rates: Changes in interest rates, particularly in the Eurozone, can influence investment decisions and affect the attractiveness of SPPW.F.

Economic Conditions: Broader economic factors like GDP growth, inflation, and unemployment in relevant economies can influence investor confidence and the performance of underlying companies.

Geopolitical Events: Unexpected political or geopolitical events can create uncertainty and impact investor sentiment, leading to volatility in the ETF's price.

Fund Management and Expenses: The fund's management strategy and expense ratio can affect its overall returns and thus influence its price.

Sector Performance: The performance of the specific sectors that SPPW.F invests in will influence its overall value.

Liquidity: The liquidity of the ETF itself can affect its price, with lower liquidity potentially leading to wider bid-ask spreads and price fluctuations.

Global Market Sentiment: Overall global market sentiment and risk appetite can impact the flow of funds into or out of SPPW.F.