Underlying Holdings' Performance: The value of the companies held within the PFH-F.TO ETF directly impacts its price. Positive company performance generally increases the ETF's value.

Interest Rate Changes: As a preferred share ETF, PFH-F.TO's price is sensitive to interest rate fluctuations. Rising rates can decrease the appeal of preferred shares, lowering the ETF's price.

Credit Spreads: Changes in credit spreads, which reflect the perceived risk of corporate debt, can impact preferred shares. Widening spreads often lead to lower PFH-F.TO prices.

Supply and Demand: General market forces of supply and demand influence the ETF's price. Higher demand increases the price, while increased selling pressure decreases it.

Market Sentiment: Overall investor sentiment towards preferred shares and the financial sector can significantly affect the ETF's price. Positive sentiment tends to drive prices up.

Redemption and Creation Activity: Large redemptions can force the ETF to sell underlying holdings, potentially lowering the price. Creations have the opposite effect, but it is very slight.

Currency Fluctuations: PFH-F.TO is denominated in Canadian dollars, so currency fluctuations may influence its price.

Inflation Expectations: Elevated inflation expectations can erode the real return on fixed-income assets like preferred shares, negatively affecting PFH-F.TO's price.

Economic Growth: Strong economic growth can lead to higher interest rates and potentially decrease the appeal of preferred shares.

Liquidity of Underlying Assets: The liquidity of the preferred shares held by the ETF can influence the price. Less liquid assets can lead to wider bid-ask spreads for PFH-F.TO.

ETF Management Fees: While not a direct driver of daily price changes, the ETF's management expense ratio (MER) impacts its overall return and attractiveness.

Regulatory Changes: Changes in regulations that affect preferred shares or the financial sector can influence the ETF's price.

Dividend Payments: Anticipated dividend payments from the underlying preferred shares can provide some support to the ETF's price.