Fund performance: ZMMK.TO's price mirrors the performance of its underlying index, the FTSE Canada All Cap ex Tobacco Index. Strong index returns drive price up, while poor returns lower it.

Supply and demand: Higher demand for ZMMK.TO shares increases its price, while increased selling pressure lowers it. Market sentiment and investor appetite for Canadian equities influence this.

Interest rates: Rising interest rates can make bonds more attractive relative to equities, potentially leading to a decrease in demand for ZMMK.TO and a subsequent price drop.

Economic conditions: A strong Canadian economy generally supports higher equity prices, benefiting ZMMK.TO. Conversely, economic downturns can negatively impact the ETF's price.

Currency fluctuations: Changes in the Canadian dollar's value against other currencies can affect the returns for foreign investors, influencing demand and the ETF's price.

Management fees and expenses: The ETF's expense ratio and other management costs can slightly detract from its overall performance and thus its price.

Trading activity: Large trades or periods of high trading volume can cause short-term price fluctuations in ZMMK.TO.

Dividend payments: While dividends are distributed, they can temporarily decrease the ETF's price on the ex-dividend date.

Global events: Major global events, such as geopolitical instability or international economic shocks, can impact overall market sentiment and affect ZMMK.TO's price.

Sector performance: As a broad market ETF, ZMMK.TO's performance is influenced by the performance of different sectors within the Canadian economy. Strong sectors boost the price.