Underlying Index Performance: The price significantly mirrors the performance of its tracked index. Positive index performance usually leads to price increases, and vice-versa.

Supply and Demand: Increased demand drives prices upward, while higher supply relative to demand puts downward pressure.

Market Sentiment: Overall investor confidence and risk appetite influence ETF prices. Positive sentiment often boosts demand, while fear can trigger selling.

Expense Ratio: While it doesn't directly change the price, a higher expense ratio can impact long-term returns and relative attractiveness compared to other ETFs.

Tracking Error: Deviations from the tracked index's performance can affect investor perception and thus the ETF's price.

Currency Exchange Rates: Fluctuations in the Euro (given XETRA listing) relative to other currencies, especially the underlying assets' currencies, impact returns for international investors.

Interest Rates: Changes in interest rates, particularly in the Eurozone, can impact market valuations and influence investor behavior towards ETFs.