Exchange rates: Fluctuations in the CAD/USD exchange rate, since TCBN.TO holds US equities.

US Equity Market Performance: Overall performance of US equity markets, directly impacting the ETF's NAV.

Interest Rates: Changes in interest rates, influencing discount rates and potentially valuations.

Sector Performance: Performance of sectors TCBN.TO invests in, like technology or consumer discretionary.

Investor Sentiment: General market sentiment, leading to buying or selling pressure on the ETF.

Economic Data: Key economic indicators (GDP, inflation, employment), affecting market outlook.

Company-Specific News: News about individual companies held within the ETF, influencing stock prices.

Fund Flows: Inflows or outflows of capital into the ETF, affecting supply and demand.

Index Tracking Accuracy: How closely the ETF tracks its benchmark index, influencing its price.

Management Fees & Expenses: The fund's expense ratio, subtly affecting returns and long-term price.

Political & Geopolitical Events: Major political or geopolitical events, impacting market confidence.

Liquidity: Liquidity of the underlying securities and the ETF itself, affecting trading efficiency.