Underlying Equity Performance: The price of QEE.TO is heavily influenced by the performance of the underlying equities it holds. Positive performance in those equities leads to an increase in the ETF's price, while negative performance causes a decrease.

Interest Rate Changes: Changes in interest rates can indirectly impact QEE.TO. Higher interest rates may make bonds more attractive relative to equities, potentially leading to a decrease in demand for equities and subsequently affecting the ETF's price.

Economic Conditions: Overall economic conditions, such as GDP growth, inflation, and unemployment, can influence investor sentiment and market performance, thus impacting the price of the ETF.

Currency Fluctuations: Since QEE.TO may hold international equities, currency fluctuations between the Canadian dollar and the currencies of the underlying equities can affect its price.

Supply and Demand: General market supply and demand for QEE.TO shares also play a role. Higher demand generally leads to a higher price, while increased supply may lower the price.

ETF Management Fees and Expenses: Although relatively small, the management fees and operating expenses associated with the ETF can slightly impact its overall return and therefore indirectly affect its price over time.

Market Sentiment: Overall market sentiment, including investor confidence and risk appetite, significantly affects the demand for equities and ETFs like QEE.TO, thereby influencing its price.