Underlying Asset Performance: The primary driver is the performance of the underlying asset allocation, which is a globally diversified portfolio of ETFs. When these constituent ETFs rise or fall in value, ZGRO-T.TO reflects that change.

Market Sentiment: Broad market trends, investor confidence, and economic outlook influence overall demand for ETFs, including ZGRO-T.TO. Positive sentiment typically drives prices up, while negative sentiment causes them to fall.

Interest Rates: Changes in interest rates affect bond yields within ZGRO-T.TO's fixed income allocation. Rising rates can decrease bond prices, while falling rates can increase them.

Currency Fluctuations: As ZGRO-T.TO holds international assets, currency exchange rates impact its value. A stronger Canadian dollar reduces returns, while a weaker dollar increases them.

Supply and Demand: The simple forces of supply and demand play a role. Higher demand for ZGRO-T.TO relative to its supply will increase its price, and vice versa.