MUMC-B.TO is a Canadian-listed ETF designed to provide inverse exposure to the price of the S&P/TSX 60 Index. Here's what affects its price: Underlying Index Performance: The primary driver. As the S&P/TSX 60 Index declines, MUMC-B.TO's price is designed to increase, and vice-versa. The fund aims to deliver -1x the daily performance. Management Fees & Expenses: The fund's operating costs are subtracted from its returns. Higher fees will reduce the overall return. Trading Volume & Liquidity: Higher trading volume usually means a tighter bid-ask spread, which can affect the price at which you can buy or sell the ETF. Supply and Demand: Like any security, the price of MUMC-B.TO is subject to basic supply and demand. If more people want to buy than sell, the price will increase. Interest Rates: Rising interest rates may indirectly impact the S&P/TSX 60 and thereby influence MUMC-B.TO. Canadian Economic Conditions: Broad economic factors can influence the constituents of the S&P/TSX 60 and therefore affect MUMC-B.TO's price indirectly.