Underlying Index Performance: The XACT-SVERIGE.ST ETF tracks the performance of an underlying index of Swedish stocks. Therefore, the price of the ETF is directly influenced by the overall performance of the companies within that index.

Supply and Demand: Like any traded asset, the ETF's price is determined by supply and demand. If demand exceeds supply, the price goes up, and vice versa.

Market Sentiment: General investor sentiment towards the Swedish stock market and global economic conditions can significantly impact demand for the ETF.

Currency Exchange Rates: As the ETF invests in Swedish stocks, fluctuations in the SEK/EUR or SEK/USD exchange rates can affect the ETF's value for investors holding currencies other than SEK.

Management Fees and Expenses: The ETF's expense ratio, which covers management fees and operating costs, reduces the ETF's net asset value (NAV) and subsequently its market price over time.

Dividend Payments: Dividends paid by the underlying companies are passed on to ETF holders, which can influence its price on the ex-dividend date.