Underlying Asset Performance: PZW-F.TO tracks the Solactive Global Innovation Leaders Index. The performance of the companies within this index directly impacts the ETF's price. Strong performance from these innovative companies will generally push the ETF price up, while poor performance will pull it down. Supply and Demand: Basic economic principles apply. Higher demand for PZW-F.TO shares will drive the price up, while increased selling pressure (higher supply) will lower the price. Investor Sentiment: Overall market optimism or pessimism towards technology and innovation sectors can influence demand for the ETF. Positive sentiment leads to buying pressure, increasing the price. Currency Fluctuations: As the ETF invests in global companies, currency exchange rates (specifically between the Canadian dollar and other currencies) can affect its value when converted back to CAD. A stronger Canadian dollar would decrease the value and vice versa. Management Fees and Expenses: The ETF's expense ratio is deducted from its assets, which can subtly reduce its overall performance and price over time. Index Rebalancing: When the underlying index is rebalanced (companies added or removed), the ETF must adjust its holdings accordingly. This trading activity can create temporary price fluctuations.