Underlying Index Performance: DXZ.TO tracks the S&P/TSX 60 Index. Its price closely mirrors the index's performance. Upward index movements typically increase the ETF's price, while downward movements decrease it.

Supply and Demand: High demand for DXZ.TO pushes its price upward, while increased selling pressure lowers it. This reflects investor sentiment and market conditions.

Market Sentiment: Overall investor confidence or fear can affect demand for DXZ.TO. Positive sentiment boosts buying, while negative sentiment triggers selling.

Economic Conditions: Factors like GDP growth, inflation, and interest rates influence the Canadian stock market and, subsequently, DXZ.TO's price. Strong economic data can drive the price higher.

Currency Fluctuations: Changes in the Canadian dollar's value relative to other currencies can impact DXZ.TO, especially if the underlying companies have significant international operations.

Sector Performance: The performance of key sectors within the S&P/TSX 60, such as financials and energy, significantly affects DXZ.TO as these sectors have heavy weighting.