Underlying Asset Performance: The price of TLV.TO directly reflects the performance of the underlying Tel Aviv Stock Exchange TA-35 Index.

Supply and Demand: Increased demand for TLV.TO, coupled with limited supply, pushes the price higher. Conversely, higher supply and lower demand lead to price declines.

Currency Fluctuations: As the underlying assets are Israeli, currency fluctuations between the Canadian dollar and Israeli Shekel impact the ETF's price.

Market Sentiment: Overall investor sentiment towards the Israeli stock market and geopolitical stability can influence the ETF's price.

Interest Rates: Changes in interest rates, both in Canada and Israel, can affect investor appetite for equities and thus, TLV.TO.

Economic Conditions: Broad economic conditions in Israel, such as GDP growth, inflation, and unemployment, directly influence the performance of the companies in the TA-35 index.

Geopolitical Events: Political and security events in the Middle East can create volatility and influence investor confidence, affecting TLV.TO's price.