Underlying Holdings: FHC-F.TO's price is directly tied to the value of its underlying Canadian high dividend stocks. A rise in those stocks' prices will generally increase the ETF's price, and vice versa.

Interest Rates: Higher interest rates can make dividend stocks less attractive compared to fixed-income investments, potentially lowering demand and thus the ETF's price.

Economic Conditions: A strong economy typically supports corporate profitability, which can lead to higher dividends and stock prices. Economic slowdowns may have the opposite effect.

Investor Sentiment: Overall market optimism or pessimism can influence demand for dividend ETFs like FHC-F.TO. Positive sentiment often drives prices up, while negative sentiment can push them down.

Dividend Yield: The ETF's dividend yield relative to other investments plays a role. A higher yield may attract more investors, increasing demand and potentially its price. Conversely, a lower yield might decrease demand.

Fund Flows: Large inflows of money into the ETF typically lead to increased demand for its underlying holdings, potentially raising its price. Outflows can have the opposite effect.

Management Fees: The ETF's expense ratio, while relatively small, can subtly affect its total return and price over time. Higher fees can marginally reduce returns compared to similar ETFs with lower fees.