Underlying Bond Prices: NOVB-F.TO tracks an index of Canadian investment-grade bonds, so changes in those bond prices directly impact the ETF's value. Interest Rate Changes: Rising interest rates typically decrease bond prices, and consequently, the ETF's price. Conversely, falling rates tend to increase bond prices and the ETF's price. Credit Risk: Changes in the perceived creditworthiness of the bond issuers within the index can influence bond prices and the ETF's value. Downgrades can lower the price. Inflation Expectations: Higher inflation expectations generally lead to higher interest rates, which negatively affects bond prices and the ETF's price. Market Sentiment: General investor optimism or pessimism towards fixed income investments can influence demand for NOVB-F.TO, affecting its price. Supply and Demand: Like any traded security, the balance between buyers and sellers of NOVB-F.TO can cause short-term price fluctuations. ETF Management Fees: The ETF's expense ratio is deducted from its returns, subtly affecting its overall performance and, indirectly, its price.