**Underlying Asset Performance:** ZPRV.F tracks the Solactive Canada Preferred Share Index. The prices of the preferred shares within this index directly impact the ETF's NAV and market price.

**Interest Rate Changes:** Preferred shares are sensitive to interest rate fluctuations. Rising rates can decrease their attractiveness, lowering the ZPRV.F price, and vice-versa.

**Credit Risk:** The creditworthiness of the issuers of the preferred shares matters. Downgrades or concerns about an issuer's financial health can negatively affect ZPRV.F's price.

**Market Sentiment:** General investor sentiment towards fixed income and preferred shares influences demand for ZPRV.F, affecting its market price.

**Liquidity:** The ETF's trading volume and the liquidity of its underlying holdings can affect its price. Low liquidity can lead to wider bid-ask spreads and price volatility.

**Supply and Demand:** Simple economics of supply and demand for ZPRV.F affect its price. More buyers than sellers increase price. More sellers than buyers decrease price.

**Currency Fluctuations:** ZPRV.F trades in CAD, but some underlying holdings may be affected by movements in other currencies.