Underlying Asset Performance: The primary driver is the performance of the underlying companies within the Solactive United States Equity Select Factor UCITS Index.

Index Rebalancing: Changes in the index composition during rebalancing can affect the ETF's holdings and potentially its price.

Supply and Demand: General market supply and demand for the UEFI.F ETF itself influences its price.

Interest Rates: Changes in interest rates can affect the attractiveness of equities and therefore UEFI.F.

Economic Conditions: Overall economic growth or recessionary fears influence investor sentiment and market valuations.

Market Sentiment: Broad positive or negative feelings toward the US equity market impact UEFI.F.

Currency Fluctuations: Since it's a UCITS ETF, currency movements between the base currency and the trading currency might influence price.

Expense Ratio: The ETF's annual expense ratio impacts the overall return and perceived value.

Trading Volume and Liquidity: Higher trading volume and liquidity usually lead to tighter bid-ask spreads, resulting in fairer prices.