Index Performance: VEA.MX tracks the FTSE Developed All Cap ex US Index, so the index's performance directly impacts the ETF's price. Higher index values usually lead to higher VEA.MX prices.

Currency Fluctuations: The ETF holds international assets, so currency exchange rates between the Mexican Peso (MXN) and currencies of the underlying assets (e.g., EUR, JPY, GBP) affect the price. MXN depreciation boosts VEA.MX.

Investor Demand: Increased demand for VEA.MX can drive up its price, especially relative to its net asset value (NAV). Conversely, selling pressure can lower it.

Interest Rates: Interest rate changes in developed markets where the underlying assets are located can influence stock valuations and therefore VEA.MX's price.

Economic Growth: Economic growth or contraction in developed countries represented in the index can significantly affect corporate earnings and stock prices, thus influencing VEA.MX's value.

Political Events: Political instability, policy changes, or geopolitical events in the developed countries covered by the index can create market volatility and affect the prices of the underlying stocks, impacting VEA.MX.

Fund Management Fees: While not a direct price driver, the expense ratio charged by Vanguard to manage VEA.MX reduces the overall return and indirectly affects its attractiveness to investors.

Dividend Payments: Dividend payments from the underlying companies affect the ETF's NAV and can influence investor demand, although the impact is generally smaller than other factors.

Market Sentiment: Overall investor sentiment and risk appetite can significantly impact VEA.MX. If investors are risk-averse, they may sell international equities, lowering the ETF's price.

Tracking Error: The ETF's ability to accurately track its benchmark index affects investor confidence and price. High tracking error might negatively influence the ETF's price relative to its NAV.