Underlying Asset Performance: WELW.XETRA's price closely tracks the performance of the underlying assets, primarily global water-related companies. Positive or negative movements in these companies directly impact the ETF.

Supply and Demand: Market forces of supply and demand play a significant role. Higher demand than supply drives the price up, while the opposite lowers it.

Expense Ratio: The ETF's expense ratio, which covers management and operational costs, indirectly affects returns and therefore price. A higher ratio can slightly depress price compared to lower-cost alternatives.

Interest Rates: Changes in prevailing interest rates can influence investor appetite for equities, including those held within the ETF. Higher rates may lead to selling pressure.

Economic Conditions: Overall economic health, globally and within regions where the ETF's holdings operate, impacts investor sentiment and earnings potential, thereby affecting ETF value.

Currency Fluctuations: As WELW.XETRA holds international assets, currency exchange rates between the Euro and those currencies can influence returns and the ETF's price.