SVR-C.TO's price fluctuations are influenced by several factors. Underlying Asset Performance: The price of SVR-C.TO closely tracks the Solactive US Large Cap CAD Hedged Index. Therefore, the performance of the US large-cap stocks within that index, converted to Canadian dollars and hedged against currency fluctuations, is a primary driver. Currency Hedging Effectiveness: While SVR-C.TO aims to minimize the impact of CAD/USD exchange rate variations, the hedging strategy might not be perfect. The effectiveness of this hedge impacts returns. Market Sentiment: Overall investor sentiment towards equity markets, particularly US large-cap stocks, can influence the demand for SVR-C.TO and consequently its price. Supply and Demand: Basic economic principles apply. Higher demand for SVR-C.TO relative to its supply will push the price upward, and vice versa. Interest Rates: Changes in interest rates, particularly in the US and Canada, can indirectly affect stock valuations and investor preferences, influencing SVR-C.TO's price. Fund Management Fees: The ETF's expense ratio reduces the overall return, which is reflected in the ETF price over time. Economic Conditions: Broad economic factors like GDP growth, inflation, and unemployment rates can impact the profitability of US large-cap companies and thus affect the underlying index and SVR-C.TO.