Underlying Holdings Performance: The price of TGAF.TO directly reflects the performance of the underlying global asset allocation ETF holdings it tracks.

Supply and Demand: Increased demand for TGAF.TO units pushes the price up, while increased selling pressure leads to price declines.

Overall Market Sentiment: Broad market optimism or pessimism influences investor appetite for TGAF.TO, impacting its price.

Currency Fluctuations: Since TGAF.TO may hold international assets, currency movements affect the value of those holdings in Canadian dollars.

Management Fees and Expenses: These costs are factored into the ETF's net asset value (NAV), impacting its overall price.

Interest Rate Changes: Rising interest rates can make bonds less attractive, potentially affecting the bond portions of the underlying ETFs held by TGAF.TO.

Economic Data Releases: Key economic indicators can influence investor sentiment and impact the underlying asset allocations.

Geopolitical Events: Global events can cause market volatility and affect investor risk appetite, influencing demand for TGAF.TO.

Issuer Actions: Decisions made by the ETF provider, such as changes to the investment strategy, can affect its perceived value.