Underlying Index Performance: The ETF price closely tracks the MSCI World SRI Index. Changes in this index, driven by global stock market performance and specific sector/company movements, directly impact the ETF's value. Supply and Demand: Like any security, increased demand for XD9U pushes the price up, while greater selling pressure leads to a price decrease. Investor sentiment and market trends influence this dynamic. Currency Fluctuations: As the ETF invests in global equities, changes in exchange rates between the Euro (base currency of the ETF) and other currencies (e.g., USD, JPY) can affect its Euro-denominated price. Expense Ratio and Tracking Error: The ETF's management fee (expense ratio) and its ability to accurately replicate the index (tracking error) impact returns. Higher fees and larger tracking errors can slightly detract from performance relative to the index. Market Sentiment and Global Events: Broad market sentiment (risk-on/risk-off) and significant global events (economic recessions, political instability) can affect overall investor confidence, impacting demand for equity ETFs like XD9U.XETRA.