Underlying Holdings Performance: HAC.TO's price heavily depends on the performance of the Canadian high-interest savings account ETFs it holds.

Interest Rate Changes: Increases or decreases in Canadian interest rates, especially the overnight rate set by the Bank of Canada, impact the yields and attractiveness of high-interest savings accounts.

Demand and Supply: General investor demand for the ETF relative to the available supply can cause price fluctuations above or below its net asset value (NAV).

Management Fees: The ETF's management expense ratio (MER) directly impacts its yield and overall return, thus affecting its price.

Market Sentiment: Broad market sentiment towards risk and safe-haven assets can influence flows into or out of HAC.TO, affecting its price.

Competition: The availability and yields of similar high-interest savings account ETFs or other cash equivalent investments affect HAC.TO's relative attractiveness.

Economic Conditions: Overall Canadian economic conditions, including inflation and unemployment, can influence interest rate expectations and therefore impact the ETF's price.

Liquidity: The liquidity of HAC.TO itself can affect its price, with lower liquidity potentially leading to wider bid-ask spreads and more volatile price movements.