Underlying Assets: ZLI.TO's price is primarily driven by the value of its underlying Canadian listed infrastructure companies.

Interest Rates: Rising interest rates can negatively impact infrastructure companies due to increased borrowing costs, potentially lowering ZLI.TO's price.

Economic Growth: Strong economic growth often benefits infrastructure as demand for services like utilities and transportation increases, potentially raising ZLI.TO's price.

Inflation: Infrastructure assets can act as an inflation hedge; rising inflation may lead to higher revenues for these companies, potentially increasing ZLI.TO's value.

Regulatory Changes: Changes in government regulations affecting infrastructure industries can significantly impact the profitability and stock prices of the companies ZLI.TO holds.

Market Sentiment: Overall investor confidence and market sentiment towards Canadian equities and infrastructure investments affect demand and ZLI.TO's price.

Currency Fluctuations: As ZLI.TO holds Canadian companies, currency exchange rates between the Canadian dollar and other currencies can indirectly impact returns.

Dividend Yields: Dividend payouts from the underlying companies in ZLI.TO can influence investor demand, potentially affecting its price.

Geopolitical Risks: Geopolitical instability and risks can cause broader market volatility, impacting investor sentiment and potentially affecting ZLI.TO.