SPQS.US tracks an index of U.S. companies with high quality scores and strong momentum. Company Fundamentals: Strong earnings reports, positive revenue growth, and healthy profit margins for the constituent companies drive up SPQS.US's price.

Market Sentiment: Overall investor optimism or pessimism towards the U.S. stock market significantly impacts SPQS.US.

Index Performance: The underlying index's performance dictates SPQS.US's value. If the index rises, SPQS.US follows, and vice versa.

Economic Data: Key economic indicators like GDP growth, inflation, and unemployment influence the attractiveness of the stocks held by SPQS.US.

Interest Rates: Changes in interest rates can impact company valuations and investor appetite for riskier assets like stocks, affecting SPQS.US.

Sector Trends: Performance of the sectors represented within the SPQS.US index will have impact on the overall price.

Geopolitical Events: Global events and political instability create market uncertainty and volatility, potentially influencing SPQS.US.

Fund Flows: Large inflows into SPQS.US increase demand, driving up the price. Conversely, significant outflows can cause the price to fall.

Momentum: The momentum factor seeks to capture the idea that stocks that have performed well recently will continue to do so, affecting SPQS.US.

Quality: The quality factor considers metrics such as profitability, earnings stability, and leverage, affecting the choice of companies within SPQS.US.

Valuation: Overvalued or undervalued state of its constiuent stocks, determined by metrics like Price to Earnings(P/E) ratio will affect SPQS.US

Alternative Investments: The availability and returns on alternative investments, such as bonds or real estate, can influence investor allocation decisions and impact demand for equity ETFs like SPQS.US.

Liquidity: If SPQS.US has low liquidity that can lead to high bid-ask spread and price fluctuation.

Regulatory Changes: Changes in regulations affecting the companies within SPQS.US's holdings can influence their profitability and, consequently, the ETF's price.