Underlying Asset Performance: The fund's price mirrors the performance of its underlying assets, primarily bonds. Higher bond prices typically increase the fund's value.

Interest Rate Changes: Rising interest rates can decrease the value of existing bonds, potentially lowering the fund's price, while falling rates can increase bond values.

Credit Risk: Perceived changes in the creditworthiness of bond issuers can impact bond prices and subsequently the fund's value. Downgrades can lower the price.

Inflation Expectations: Rising inflation expectations can push bond yields higher, decreasing bond prices and potentially lowering the fund's value.

Market Sentiment: General investor sentiment and risk appetite can influence demand for bond funds, affecting the fund's price independently of underlying assets.

Fund Management Fees: The fund's expense ratio and management fees are deducted from its returns, which can indirectly affect its price performance.

Supply and Demand: Market dynamics of supply and demand for the fund itself can influence its price, especially in times of high trading volume.

Currency Fluctuations: For funds holding bonds denominated in different currencies, exchange rate movements can impact the fund's value in EUR terms.