Underlying Holdings: The price of XSTH.TO directly reflects the performance of the Canadian high-dividend stocks it holds. A rise in these stocks' prices pushes the ETF price higher.

Dividend Yields: Changes in the dividend yields of the constituent stocks can impact investor demand for XSTH.TO. Higher overall yields may attract more buyers, increasing the price.

Interest Rates: Rising interest rates can make fixed-income investments more attractive, potentially decreasing demand for dividend-focused ETFs like XSTH.TO, thus lowering its price.

Market Sentiment: Overall market sentiment towards Canadian equities and dividend stocks affects XSTH.TO. Positive sentiment often leads to increased investment and higher prices.

Economic Conditions: The health of the Canadian economy influences the profitability of the companies held in XSTH.TO. Strong economic growth typically supports higher stock prices.

ETF Supply and Demand: Basic supply and demand for XSTH.TO shares in the market affects its price. More buyers than sellers generally cause the price to increase.

Management Fees & Expenses: The expense ratio and management fees associated with XSTH.TO indirectly affect its performance relative to its benchmark, influencing its attractiveness.

Currency Fluctuations: Changes in the value of the Canadian dollar relative to other currencies can impact the returns for investors holding XSTH.TO in foreign currencies.