Equity Market Performance: Strong performance in equity markets, especially emerging markets, typically pushes EGMZX's price higher due to its underlying holdings.

Interest Rate Changes: Rising interest rates can negatively impact EGMZX, as higher rates can make bonds more attractive relative to equities, leading to outflows.

Economic Growth in Emerging Markets: Faster economic growth in emerging market economies where EGMZX invests usually translates to increased corporate earnings and higher stock prices.

Currency Fluctuations: Currency fluctuations, particularly the strengthening of the US dollar, can negatively affect EGMZX's returns when foreign assets are converted back to USD.

Investor Sentiment: Positive investor sentiment towards emerging markets can drive increased demand for EGMZX, boosting its price.

Fund Flows: Large inflows into EGMZX can drive up its price, while significant outflows can exert downward pressure.

Geopolitical Risks: Political instability and geopolitical tensions in emerging market regions can negatively impact EGMZX's performance.

Commodity Prices: Changes in commodity prices, particularly if relevant to emerging market economies where EGMZX invests, can affect the performance of companies in related sectors and thus impact the fund's price.

Inflation Rates: Higher inflation rates, particularly if unexpected, in emerging markets can erode corporate profitability and negatively affect EGMZX.

Management Strategy: Decisions of the fund's management regarding asset allocation and stock selection impact the fund's returns.

Expense Ratio: The fund's expense ratio, though indirectly, affects the net return to investors and its relative attractiveness.

Changes in regulations: Regulatory changes in emerging markets may significantly impact the value of companies the fund invests in.