Underlying Holdings Performance: The performance of the underlying US high-yield corporate bonds directly impacts HTA-U.TO's price. Positive bond performance typically increases the ETF's value.

Interest Rate Changes: Rising interest rates can decrease the value of existing high-yield bonds, negatively affecting HTA-U.TO. Conversely, falling rates can increase its value.

Credit Spreads: Widening credit spreads, indicating higher perceived risk of default for high-yield bonds, usually lower HTA-U.TO's price. Narrowing spreads have the opposite effect.

Market Sentiment: Overall investor sentiment towards high-yield bonds influences demand and price of HTA-U.TO. Risk-on sentiment typically increases demand and price.

Currency Fluctuations: As HTA-U.TO invests in US dollar-denominated assets, changes in the CAD/USD exchange rate affect its price for Canadian investors. A stronger Canadian dollar decreases the value.

Supply and Demand: Like any ETF, HTA-U.TO's price is influenced by supply and demand. Higher demand increases price, while increased supply decreases price.

Liquidity of Underlying Bonds: The liquidity of the underlying high-yield bonds impacts the ETF's ability to accurately reflect their value. Illiquid bonds can lead to pricing discrepancies.

ETF Management Fees and Expenses: While not a direct driver of daily price changes, the ETF's management expense ratio (MER) and other expenses reduce overall returns over time, impacting its long-term value.