Business Development Company (BDC) Performance: The underlying performance of BDCs within the BDCX ETF directly impacts its price. Positive earnings reports, increased net asset value, and strong dividend yields from individual BDCs generally boost the ETF's value.

Interest Rate Changes: As BDCs often finance smaller companies with variable-rate loans, changes in interest rates can affect their profitability. Rising rates can increase their income, while falling rates may decrease it, thus influencing BDCX's price.

Economic Conditions: A strong economy usually benefits smaller businesses, leading to better performance for BDCs and, consequently, a higher BDCX ETF price. Conversely, economic downturns can negatively affect BDCs and the ETF's value.

Market Sentiment: Overall investor confidence and risk appetite play a role. Positive market sentiment towards high-yield investments can increase demand for BDCX, driving up its price, while negative sentiment can lead to selling pressure and lower prices.