Emerging Market Performance: Broad economic health and investor sentiment towards emerging markets significantly impact EMLCX, as it invests in companies within these regions.

Interest Rate Fluctuations: Changes in interest rates, especially in the US and emerging market countries, can affect capital flows and investment valuations.

Currency Exchange Rates: Currency fluctuations between the US dollar and the currencies of the countries where EMLCX invests can impact returns when translated back to USD.

Political and Economic Instability: Political instability, policy changes, and economic crises in emerging markets can negatively affect investment values within the fund.

Commodity Prices: As many emerging markets are commodity-driven economies, fluctuations in commodity prices (e.g., oil, metals) can impact the profitability of companies within EMLCX.

Company-Specific Factors: The financial performance and outlook of the individual companies held within the fund influence its overall value.