Market Interest Rates: Rising interest rates typically decrease bond prices, as newly issued bonds offer higher yields, making existing bonds less attractive.

Credit Quality of Holdings: Downgrades in the credit ratings of bonds held within the fund can negatively impact its price, reflecting increased risk of default.

Inflation Expectations: Higher inflation expectations often lead to higher interest rates, reducing bond prices and CMLAX.US NAV.

Economic Growth: Stronger economic growth can lead to increased inflation and potentially higher interest rates, affecting bond valuations.

Fund Management Decisions: The fund manager's investment strategy and security selection can influence fund performance and therefore its price.

Investor Sentiment: General market optimism or pessimism towards fixed income assets can drive investor demand and influence CMLAX.US price.

Supply and Demand: Increased selling pressure relative to buying interest in CMLAX.US shares can push the price downward.

Maturity of Holdings: Longer-maturity bonds within the fund are generally more sensitive to interest rate changes, impacting price volatility.

Liquidity of Underlying Assets: Difficulty in selling the bonds held by the fund can negatively affect the CMLAX.US's ability to meet redemption requests and therefore affect the price.

Call Provisions: Bonds with call provisions give the issuer the right to redeem the bonds before maturity, this can limit the potential upside for the fund when interest rates decline.