Global Bond Market Conditions: Changes in global interest rates and economic outlook influence bond yields, thus affecting the ZPRW.F ETF's price.

Credit Quality of Holdings: Downgrades or concerns about the creditworthiness of the bonds within the ETF portfolio can lower its price.

Currency Fluctuations: As the ETF holds international bonds, currency exchange rate movements significantly impact returns and the ETF's CAD price.

Inflation Expectations: Rising inflation can erode bond values, leading to a decrease in the ETF's price as yields rise.

Geopolitical Events: International events and political instability can impact bond market sentiment and influence the ETF's price.

Liquidity of Underlying Bonds: If underlying bonds become less liquid, it may be harder to trade them, impacting the ETF price.

Supply and Demand for the ETF: Higher demand for the ETF will generally increase its price, and increased supply may lower it.

Changes in Fund Management: Changes in investment strategy or fund management team could affect investor confidence and the ETF's price.

Expense Ratio and Management Fees: High fees can impact returns and make the ETF less attractive, possibly affecting its price.

Fund Flows: Large inflows or outflows of assets into or out of the ETF can impact supply and demand, thereby affecting its price.