Volatility of Underlying Assets: VOPKF.US tracks options on the S&P 500 VIX Short-Term Futures Index. Higher VIX futures volatility translates to greater price fluctuations for VOPKF.US.

Supply and Demand: Like all ETFs, VOPKF.US's price is influenced by buyer and seller activity. Increased demand generally pushes the price up, while increased supply can lower it.

Interest Rates: Rising interest rates can impact VOPKF.US negatively as investors may shift towards fixed-income assets, reducing demand for volatility-linked products.

Economic Conditions: Economic uncertainty or downturns often lead to higher volatility, potentially increasing demand for VOPKF.US as a hedge, driving its price up. Conversely, economic stability can decrease volatility and VOPKF.US's price.

Global Events: Major global events (political instability, natural disasters) can trigger market volatility, impacting the VIX futures and subsequently VOPKF.US's price.

Investor Sentiment: Overall market sentiment, risk appetite, and fear/greed cycles significantly influence demand for volatility products like VOPKF.US.

Contango and Backwardation: The shape of the VIX futures curve impacts VOPKF.US's performance. Contango (futures prices higher than spot) can erode value, while backwardation (futures prices lower than spot) can increase value.

Competitor Performance: The performance of other volatility-linked ETFs or similar financial instruments can influence investor decisions and thus affect VOPKF.US's price.

VIX Index Level: Because VOPKF.US tracks VIX futures, the current and expected level of the VIX index is a primary driver of its price. Higher VIX usually means a higher VOPKF.US price.

News and Media: News reports about market volatility, economic forecasts, or geopolitical risks can quickly influence investor perception and trading activity, affecting VOPKF.US's price.