Net Asset Value (NAV): ZMID-U.TO's price closely tracks its NAV, reflecting the underlying securities' market value. Changes in the price of the U.S. mid-cap stocks held by the ETF directly impact the NAV.

Supply and Demand: Market demand for ZMID-U.TO shares influences its price. Higher demand typically pushes the price up, while increased selling pressure can lower it.

Exchange Rates: As ZMID-U.TO invests in U.S. equities, fluctuations in the CAD/USD exchange rate affect its price when viewed in Canadian dollars. A stronger USD boosts the ETF's price.

Market Sentiment: Overall investor sentiment towards U.S. mid-cap stocks and the broader market influences ZMID-U.TO's price. Positive sentiment tends to drive prices higher.

Trading Costs: Transaction costs, including brokerage fees and bid-ask spreads, can impact the effective price investors pay or receive when trading ZMID-U.TO.

Management Fees: The ETF's management expense ratio (MER) indirectly affects its price over time as these fees reduce the ETF's overall returns.

Tracking Error: Differences between ZMID-U.TO's performance and the performance of its benchmark index can influence investor perception and, consequently, its price.

Economic Conditions: Macroeconomic factors like U.S. GDP growth, interest rates, and inflation can impact the performance of U.S. mid-cap companies and, therefore, ZMID-U.TO's price.