Underlying Asset Performance: The primary driver is the performance of the assets held within the ETF, specifically the MSCI World Index.

Supply and Demand: Market demand for XMK9.XETRA shares influences its price; higher demand typically leads to a price increase and vice versa.

Expense Ratio: The ETF's expense ratio, representing management fees, impacts the net return and therefore the price.

Trading Volume and Liquidity: Higher trading volume and liquidity contribute to price stability and tighter bid-ask spreads.

Currency Fluctuations: Since XMK9.XETRA is traded on XETRA, Euro (EUR) strength affects the EUR-denominated price if underlying assets are in other currencies.

Global Economic Conditions: Broad economic factors like interest rates, inflation, and GDP growth influence investor sentiment and ETF prices.

Market Sentiment: Overall investor confidence or fear regarding global markets affects demand for the ETF.

Tracking Error: Deviations between the ETF's performance and the MSCI World Index's performance can impact the ETF's price.

Competitor ETFs: The performance and pricing of similar World Index ETFs can influence XMK9.XETRA.

Geopolitical Events: Major global political or social events can create market volatility and affect ETF prices.