[Underlying Securities Performance]: VCNIX's price mirrors the performance of the Canadian equity market. When Canadian stocks rise, VCNIX's NAV typically increases, and vice versa.

[Currency Fluctuations]: As VCNIX invests in Canadian securities, the exchange rate between the US dollar and the Canadian dollar can impact returns for US investors. A stronger Canadian dollar boosts VCNIX's price in USD terms.

[Interest Rate Movements]: Changes in Canadian interest rates can influence the valuation of Canadian companies and, consequently, VCNIX's price. Higher rates may negatively affect stock prices, while lower rates can be stimulative.

[Economic Growth in Canada]: The overall health and growth of the Canadian economy can drive corporate earnings and investor sentiment, affecting the value of Canadian stocks within VCNIX.

[Global Market Sentiment]: Broad global economic conditions and investor risk appetite can spill over into the Canadian stock market, affecting VCNIX's price regardless of specific Canadian factors.

[Supply and Demand for VCNIX Shares]: Market dynamics play a role. Increased demand for VCNIX can drive its market price above its NAV, creating a premium. Conversely, high selling pressure can lead to a discount.

[Management Fees and Expenses]: The fund's operating expenses, deducted from its assets, indirectly affect its overall return and, consequently, its share price. Higher expenses can slightly reduce net returns.

[Political and Regulatory Climate]: Political stability and favorable regulations in Canada can support business activity and investment, positively influencing VCNIX. Unfavorable changes can have a negative impact.