Fixed Income Market Conditions: Changes in interest rates, credit spreads, and overall market sentiment towards Canadian preferred shares directly influence ZPRC.F's price.

Underlying Holdings' Performance: The performance of the individual preferred shares within ZPRC.F's portfolio is a primary driver of its price fluctuations.

Supply and Demand: Investor buying and selling pressure on ZPRC.F shares in the secondary market impacts its price, reflecting overall market sentiment.

Redemption Risk: The risk that the underlying preferred shares may be redeemed by their issuers, impacting ZPRC.F's yield and price.

Distributions: The level of distributions paid by ZPRC.F affects investor demand and, consequently, its price.

Management Fees and Expenses: The costs associated with managing ZPRC.F reduce returns, which can influence its price relative to similar ETFs.

Changes in Regulation: New regulations pertaining to preferred shares or ETFs can alter investor perception and impact ZPRC.F's price.