Underlying Holdings: The primary driver is the collective value of the stocks held within the ETF. Their individual price fluctuations directly impact VI.TO's Net Asset Value (NAV).

Supply and Demand: High demand typically pushes the ETF's market price above its NAV, while increased selling pressure can drive it below. This creates premiums or discounts.

Interest Rates: Changes in interest rates can influence investor sentiment and valuation models, impacting the attractiveness of the underlying dividend-paying stocks.

Market Sentiment: Broad economic conditions, investor confidence, and overall market trends can significantly affect demand for VI.TO and similar dividend ETFs.

Dividend Yields: The expected dividend yield of VI.TO relative to other investment options influences its attractiveness and investor interest.

Management Fees and Expenses: Higher fees and expenses can negatively impact the overall return and potentially lower the market price.

Liquidity: The ease with which VI.TO shares can be bought and sold affects price stability. Lower liquidity can lead to greater price volatility.