Asset Value: RQR.TO's price reflects the value of its underlying holdings - primarily Canadian Real Return Bonds. As these bonds' prices change, so does the ETF's. Inflation expectations are key.

Interest Rates: Rising interest rates generally decrease bond values, including those held by RQR.TO. Conversely, falling rates usually increase bond prices. Real interest rates are crucial.

Supply and Demand: Like any security, RQR.TO's price is influenced by buyer and seller activity. High demand can drive the price up, while increased selling pressure can lower it.

Inflation Expectations: Since RQR.TO tracks real return bonds, changes in inflation expectations significantly affect its value. Higher anticipated inflation can decrease real returns and therefore, RQR.TO's price.

Market Sentiment: Overall investor confidence or pessimism can impact demand for RQR.TO. During times of uncertainty, investors may seek safety in fixed-income assets, including real return bonds.

ETF Flows: Large inflows into RQR.TO can push the price higher, while significant outflows can put downward pressure on the price. This is linked to supply and demand.

Liquidity of Underlying Bonds: The ease with which the underlying Canadian Real Return Bonds can be bought and sold affects RQR.TO's pricing. Illiquidity in the bond market can lead to wider bid-ask spreads.

Management Fees and Expenses: While not a direct driver of daily price fluctuations, RQR.TO's management expense ratio (MER) reduces overall returns, thus indirectly influencing its attractiveness and long-term price performance.