Underlying Index Performance: XDU.TO tracks the S&P U.S. Dividend Aristocrats Index. The price of XDU.TO is directly impacted by the performance of the constituent companies within this index. Positive performance increases XDU.TO's price.

Supply and Demand: General market supply and demand for XDU.TO shares influence its price. Higher demand than supply pushes the price up, while more supply than demand causes a price decrease.

Dividend Yields: Changes in dividend yields of the underlying companies can affect XDU.TO. Higher overall dividend yields usually attract investors, potentially increasing the price.

Currency Fluctuations: Since the index includes U.S. companies, currency fluctuations between the Canadian and U.S. dollar can affect XDU.TO's price when viewed from a Canadian investor's perspective.

Management Fees and Expenses: The ETF's management expense ratio (MER) and any associated trading costs are deducted from the fund's assets, slightly influencing the return and thus the price.

Economic Conditions: Overall economic conditions in the U.S. and Canada, including interest rates, inflation, and economic growth, can indirectly influence the performance of the companies within the index and, consequently, XDU.TO's price.

Investor Sentiment: Broad investor sentiment towards dividend-paying stocks and the U.S. market can impact demand for XDU.TO, affecting its price.

Rebalancing and Reconstitution: Periodic rebalancing and reconstitution of the underlying index can cause temporary price adjustments as the ETF adjusts its holdings to match the index's composition.