Global Equity Market Performance: XMAW.F tracks global equities, so overall market sentiment and performance significantly impact its price. Positive or negative trends in major global indices directly influence XMAW.F.

Currency Fluctuations: As a global ETF, currency exchange rates, especially between the CAD and other major currencies, can affect returns when translated back into CAD. A weaker CAD boosts returns, while a stronger CAD reduces them.

Underlying Holdings Performance: The individual companies within the index that XMAW.F tracks directly impact its price. Strong earnings or positive news from key holdings can drive up the ETF's price.

Investor Demand: Increased demand for XMAW.F pushes its price higher, while selling pressure leads to price declines. Investor sentiment and asset allocation decisions influence this demand.

Economic Conditions: Global economic factors, such as GDP growth, inflation, interest rates, and unemployment, all influence the performance of companies within XMAW.F and subsequently affect its price.