Underlying Holdings Performance: RZV's price heavily depends on the collective performance of the small-cap value stocks it holds. Positive earnings reports or industry tailwinds for these companies can boost the ETF's value.

Investor Sentiment: Overall market optimism or pessimism regarding small-cap value stocks directly influences demand for RZV shares, thus affecting its price. High demand pushes prices up; low demand pushes prices down.

Expense Ratio: Though a smaller factor, the ETF's expense ratio reduces overall returns. Higher expenses compared to similar ETFs may make RZV less attractive.

Supply and Demand: The simple economics of supply and demand play a role. If more investors want to buy RZV than sell, the price goes up, and vice versa.

Interest Rates: Rising interest rates can negatively affect growth stocks, potentially leading investors to shift towards value stocks, increasing demand for RZV. Conversely, decreasing interest rates may reduce its appeal.

Economic Conditions: A strong economy typically favors small-cap stocks, benefiting RZV. Conversely, economic downturns often negatively affect them.

Currency Fluctuations: Since some of RZV's holdings might be international, currency fluctuations can influence its returns and, consequently, its price.