Underlying Assets: The value of the bonds held by the ETF directly impacts its price. Changes in bond yields or credit ratings affect the ETF's NAV.

Interest Rate Changes: Rising interest rates generally decrease bond prices, lowering the ETF's value, and vice-versa.

Credit Spreads: Widening credit spreads, indicating higher perceived risk, can lower the value of corporate bonds within the ETF.

Supply and Demand: Higher demand pushes the price up; increased supply pushes it down. Trading activity influences this.

Market Sentiment: Overall investor confidence and risk appetite affect demand for fixed-income ETFs like IGAF.TO.

Inflation Expectations: Rising inflation erodes the real value of fixed income, possibly lowering the ETF's price.

Currency Fluctuations: As a CAD-denominated ETF, changes in the value of the Canadian dollar relative to other currencies, if underlying assets are foreign, can impact its price.

Fund Flows: Large inflows or outflows can create temporary price discrepancies compared to the NAV.