FactorName: Underlying Index Performance. The daily performance of the index SCDL tracks (the Solactive US Large Cap Daily Disruption -20% Factor Index) significantly impacts SCDL's price. A decline in the index leads to a magnified increase in SCDL's price due to its inverse nature.

FactorName: Inverse Leverage. SCDL employs -2x daily leverage. This means its price moves approximately two times the *opposite* direction of the underlying index's daily change. This magnification increases both potential gains and losses, and also influences pricing.

FactorName: Management Fees and Expenses. The ETF's expense ratio and any associated management fees are deducted from the fund's assets. These ongoing costs can subtly erode the value of the ETF over time, affecting its price.

FactorName: Supply and Demand. Like any traded security, the basic economic principles of supply and demand influence SCDL's market price. Higher demand relative to supply can push the price up, while increased supply compared to demand can push it down.

FactorName: Market Sentiment. Overall investor sentiment towards the market, specifically regarding large-cap US equities and factors driving the underlying index, can impact demand for SCDL. Pessimistic sentiment in the large-cap market may lead to increased demand for SCDL, thus increasing its price.

FactorName: Intraday Tracking Error. Due to the leveraged and inverse nature, along with potential market inefficiencies, SCDL might not perfectly track -2x the *daily* performance of its index. This difference is called tracking error and can affect the ETF's price.