Underlying Index Performance: SXR3.F tracks the S&P 500 index. Its price closely mirrors the index's movements, so significant rises or falls in the S&P 500 will directly affect the ETF's price.

Supply and Demand: Basic economic principles apply. Higher demand for SXR3.F pushes its price up, while increased selling pressure lowers it.

Market Sentiment: Overall investor mood influences ETF prices. Positive sentiment towards US equities can drive more investment into SXR3.F.

Currency Exchange Rates: As SXR3.F is likely traded in a currency other than USD, fluctuations in the exchange rate between USD and that currency can affect its price when viewed in the non-USD currency.

Expense Ratio: The ETF's expense ratio, though small, can subtly impact returns and therefore its price over the long term as it reduces overall profitability.

Tracking Error: The degree to which the ETF deviates from the S&P 500's performance impacts its value. Lower tracking error means a more accurate reflection of the index's price.

Dividend Payments: SXR3.F distributes dividends from the companies within the S&P 500. These payouts can slightly affect the ETF's price around distribution dates.

Geopolitical Events: Major global events, economic policies, and political instability can impact market sentiment and the S&P 500, thus affecting the ETF.