Underlying Holdings: The price of FHH-F.TO is directly impacted by the performance of the underlying holdings, which are primarily U.S. high-yield corporate bonds. Any fluctuations in the value of these bonds will affect the ETF's price.

Interest Rate Changes: Rising interest rates can negatively impact the value of high-yield bonds, as yields on newly issued bonds become more attractive, leading to a decrease in the price of existing bonds within the ETF's portfolio.

Credit Spreads: Widening credit spreads, which reflect increased risk aversion, can cause the price of high-yield bonds to decline, as investors demand a higher premium for holding these riskier assets, thus lowering the ETF's price.

Market Sentiment: General market sentiment and risk appetite play a significant role. Positive sentiment towards high-yield assets can increase demand for the ETF, driving up its price, while negative sentiment can lead to selling pressure and price declines.

Supply and Demand: The basic forces of supply and demand also influence the ETF's price. High demand will push the price up, while increased selling pressure will cause the price to drop.

Liquidity: The liquidity of the underlying bonds and the ETF itself can affect pricing. Less liquid bonds may be harder to trade, potentially impacting the ETF's ability to accurately reflect the value of its holdings.

Currency Fluctuations: As the underlying assets are primarily U.S. dollar-denominated bonds, fluctuations in the CAD/USD exchange rate can impact the ETF's price when viewed in Canadian dollars. A stronger Canadian dollar would decrease the price.

Fund Management Fees: The ETF's expense ratio can indirectly affect its price. Higher fees mean a slightly lower return for investors, which could affect demand and potentially impact the price over time.