Underlying Asset Performance: The price of XMKA.XETRA is directly linked to the performance of its underlying assets, which are primarily shares of MSCI ACWI. Any price fluctuation in these global stocks will affect the ETF's value.

Supply and Demand: Market dynamics play a role. High demand pushes the price up, while increased selling pressure can cause it to fall.

Expense Ratio & Tracking Error: The ETF's expense ratio can subtly impact its performance, as fees reduce returns. Tracking error, the difference between the ETF and its index, also matters.

Currency Fluctuations: Because the ETF holds international stocks, currency exchange rates can affect returns for investors in different currencies.

Economic Conditions: Global and regional economic health impacts the performance of the companies held by the ETF, influencing its price.

Geopolitical Events: Major global events, like political instability or trade wars, may trigger market volatility and indirectly impact the ETF's price.