Underlying Index Performance: UEFZ.F tracks the Solactive United Kingdom Select Factor UCITS Index TR. Its price directly reflects changes in this index's value, driven by the performance of its constituent companies.

Currency Fluctuations: As a EUR-denominated ETF investing in UK companies, currency movements between EUR and GBP can significantly impact UEFZ.F's price. A stronger GBP versus EUR boosts returns, and vice-versa.

Investor Demand and Supply: High demand for UEFZ.F can push its price above its net asset value (NAV), while increased selling pressure can depress it below NAV. Creation/redemption of shares keeps the price aligned with the NAV.

Interest Rates: Changes in UK interest rates can affect the valuation of companies within the underlying index and consequently impact the UEFZ.F ETF price.

Economic Growth: UK economic growth, or lack thereof, influences the profitability of companies in the underlying index, thereby influencing the UEFZ.F's ETF price.

Inflation: UK inflation impacts company earnings and valuations, affecting the index and subsequently the UEFZ.F price.

Market Sentiment: General market sentiment towards UK equities impacts UEFZ.F's price. Positive sentiment drives investment, and negative sentiment causes selling pressure.

Political and Regulatory Changes: UK political events (elections, policy changes) and regulatory shifts can alter the investment landscape, influencing the ETF price.

Factor Performance: The index utilizes factors like value, momentum, quality and low volatility. Changes in the relative performance of these factors impact the index's value and UEFZ.F.

ETF Fees and Expenses: UEFZ.F's expense ratio reduces returns and may indirectly affect its price relative to a hypothetical identical ETF with lower fees.