Fund Performance: VBVT's price is directly tied to the performance of the small-cap value stocks it holds. Strong earnings reports and positive outlooks from these companies typically boost VBVT's price.

Interest Rate Environment: Rising interest rates can negatively impact small-cap value stocks, as they can increase borrowing costs and slow economic growth. Conversely, falling rates may provide a boost.

Economic Growth: A healthy economy usually benefits small-cap value companies, leading to increased demand for their products and services and, consequently, higher VBVT prices. Economic slowdowns tend to have the opposite effect.

Investor Sentiment: Overall market sentiment and risk appetite play a significant role. When investors are optimistic, they are more likely to invest in riskier assets like small-cap value stocks, driving up VBVT's price. Negative sentiment can lead to sell-offs.

Fund Flows: Large inflows into VBVT can drive up the price, as the fund manager needs to purchase more of the underlying stocks. Outflows can force the manager to sell, potentially lowering the price.

Valuation Levels: Overvalued small-cap value stocks within VBVT's portfolio may lead to price corrections, while undervalued stocks could attract buying interest and increase the fund's price.

Sector Performance: If the sectors that are heavily represented in VBVT's holdings (e.g., financials, industrials) are performing well, it will likely positively affect the ETF's price.

Inflation: High inflation can negatively affect the profitability of small-cap value companies, particularly if they have difficulty passing on increased costs to consumers. This can depress VBVT's price.