Global Economic Conditions: Economic growth, inflation, and interest rates influence investor sentiment and the attractiveness of emerging market equities.

Commodity Prices: As emerging economies often rely on commodity exports, fluctuations in commodity prices, such as oil and metals, can impact the performance of companies within the ZEO.TO ETF.

Currency Fluctuations: Currency exchange rates between the Canadian dollar and the currencies of the underlying emerging market companies can affect the ETF's returns.

Geopolitical Events: Political instability, policy changes, and international relations in emerging markets can significantly impact investor confidence and market valuations.

Company Performance: The performance of the individual companies within the ZEO.TO ETF portfolio, including earnings reports and growth prospects, affects the overall ETF value.

Investor Sentiment: Market sentiment towards emerging markets, driven by factors like risk appetite and global growth forecasts, can impact demand for the ETF.

Fund Flows: Inflows and outflows of capital into the ZEO.TO ETF, influenced by investor decisions and market trends, can affect its price.