Underlying Assets' Performance: The ETF's price directly reflects the collective performance of the companies within its portfolio. Rising stock values lead to a higher ETF price, while declining values cause it to decrease.

Supply and Demand: High demand for MART.TO pushes the price upward, and increased selling pressure causes the price to fall. This is influenced by investor sentiment and market trends.

Net Asset Value (NAV): The NAV is the per-share value of the ETF's underlying assets. While the market price can deviate, it generally tracks the NAV closely. Significant discrepancies may trigger arbitrage opportunities.

Currency Fluctuations: If the ETF holds foreign assets, changes in exchange rates can impact its price when translated back to the Canadian dollar.

Interest Rates: Changes in interest rates can indirectly affect stock valuations, impacting the ETF. Higher rates may make bonds more attractive, potentially reducing demand for stocks.

Market Sentiment: Overall investor confidence and risk appetite can influence the ETF's price, as it can impact demand for investments.

Economic Conditions: Economic indicators like GDP growth, inflation, and unemployment can impact company earnings and investor sentiment, affecting the ETF's price.