Performance of Underlying Holdings: VGH.TO is an ETF tracking global healthcare companies. The price is directly impacted by the collective performance of the stocks held within the fund.

Currency Fluctuations: As VGH.TO holds international stocks, currency exchange rates, particularly between the Canadian dollar and other currencies (like USD or EUR), can affect the ETF's CAD value.

Interest Rates: Changes in interest rates, especially those set by central banks globally, can influence investor sentiment and potentially shift investment toward or away from equities, thus impacting VGH.TO demand.

Healthcare Sector Performance: The overall health and perceived future prospects of the healthcare sector significantly drive investor interest in VGH.TO.

Economic Conditions: Broad economic indicators (GDP growth, inflation) influence the general investment climate and appetite for risk assets like equity ETFs.

Supply and Demand: The fundamental forces of supply and demand for VGH.TO shares in the market directly determine its trading price. High demand increases the price, while increased selling pressure lowers it.