**Underlying Index Performance:** The price of VDU.TO heavily relies on the performance of its underlying index, the FTSE Developed All Cap ex US Index. Positive index returns usually increase the ETF price, while negative returns decrease it.

**Currency Fluctuations:** As VDU.TO invests in international stocks, currency exchange rates between the Canadian dollar and other currencies (like EUR, JPY, GBP) significantly influence its price. A stronger Canadian dollar reduces the value of foreign holdings, lowering the ETF price, and vice-versa.

**Supply and Demand:** General market demand for VDU.TO shares affects its price. Higher demand tends to drive prices up, while increased selling pressure can push prices down.

**Economic Conditions:** Global economic factors, such as interest rate changes, inflation, and economic growth (or recession) in developed markets, can influence the performance of the companies within the underlying index, thereby impacting VDU.TO's price.

**Geopolitical Events:** Major political events or global uncertainties (wars, trade disputes) can affect investor sentiment and market volatility, leading to price fluctuations in VDU.TO.

**Fund Management Fees & Expenses:** The annual management expense ratio (MER) and other fund operating expenses impact the overall return of VDU.TO. Higher fees reduce the net return to investors, which could affect the perceived value and potentially the price.

**Dividend Payments:** VDU.TO distributes dividends received from the underlying companies. These dividend payouts can cause minor price adjustments around the ex-dividend date.

**Interest Rates:** Changes in global interest rates, especially in the major developed economies, can affect equity valuations and influence the attractiveness of VDU.TO compared to fixed-income investments.