Underlying Bond Performance: The ETF price closely reflects the performance of the high-yield corporate bonds it holds. Rising bond values increase the ETF's NAV and price.

Interest Rate Changes: Higher interest rates typically decrease bond values, impacting BHYB.AU negatively. Lower rates generally increase bond values and the ETF's price.

Credit Spreads: Widening credit spreads (the difference in yield between corporate and government bonds) indicate higher perceived risk and can lower the ETF's price.

Market Sentiment: Overall investor risk appetite affects high-yield bond demand. Positive sentiment increases demand and the ETF price; negative sentiment decreases it.

Supply and Demand: Higher demand for BHYB.AU relative to supply pushes the price up. Increased supply or reduced demand can lower the price.

Issuer Defaults: Corporate defaults within the ETF's portfolio negatively impact the ETF's NAV and market price.

ETF Management Fees: The expense ratio and any transaction costs reduce the ETF's net asset value (NAV) over time, indirectly impacting the price.

Liquidity: Low trading volume can lead to wider bid-ask spreads, making it more difficult to buy or sell at desired prices, indirectly affecting price discovery.

Currency Fluctuations: Changes in the Australian dollar's value against other currencies can impact returns if the underlying bonds are denominated in other currencies.