Underlying Assets: FUD.TO's price is directly influenced by the performance of the underlying companies/assets it tracks, reflecting their market value.

Supply and Demand: Like any traded security, FUD.TO's price fluctuates based on buying and selling pressure in the market.

Interest Rates: Changes in interest rates can impact investor sentiment towards fixed-income assets or dividend-paying stocks held in the ETF.

Economic Conditions: Overall economic health, including GDP growth, inflation, and employment, affects the value of the underlying assets and therefore FUD.TO's price.

Management Fees: The ETF's expense ratio can subtly impact returns over time, affecting its attractiveness and ultimately its price compared to other ETFs.

Market Sentiment: Broad market optimism or pessimism can drive overall investment flows into or out of ETFs like FUD.TO, influencing its price.

Currency Fluctuations: If the ETF holds assets denominated in foreign currencies, exchange rate movements can affect its CAD value.

Rebalancing Activities: The ETF manager's periodic adjustments to the portfolio to maintain its investment strategy can create buying or selling pressure.