Underlying Index Performance: The price of WELX.XETRA closely mirrors the performance of its underlying index, the Solactive Global Equity Index. Increases or decreases in the index's value will directly impact the ETF's price.

Supply and Demand: Market forces of supply and demand play a crucial role. High demand for WELX.XETRA can drive its price above its net asset value (NAV), while increased selling pressure can push it below NAV.

Market Sentiment: Overall investor sentiment towards global equities impacts the demand for WELX.XETRA. Positive sentiment leads to increased investment, while negative sentiment causes selling pressure, affecting the price.

Currency Fluctuations: Since WELX.XETRA invests in global equities, currency exchange rates between the Euro and the currencies of the underlying assets influence its price. A stronger Euro can reduce returns, while a weaker Euro can increase them.

Expense Ratio and Management Fees: While these don't directly fluctuate the price, they affect the ETF's long-term performance and attractiveness, which can influence investor demand and ultimately, the price.

Economic Conditions: Global economic factors, such as GDP growth, inflation, and interest rates, significantly impact the earnings and valuations of the companies within the Solactive Global Equity Index, thereby affecting WELX.XETRA's price.