General Market Conditions: Broad economic trends, investor sentiment, and overall market performance influence the fund's value.

Fund's Investment Strategy: The fund's focus (e.g., specific sectors, geographic regions) affects performance based on those areas' market conditions.

Fund Management: The skills and decisions of the fund managers in selecting and managing investments directly impact returns.

Expense Ratio and Fees: Higher fees reduce returns, making the fund less attractive compared to similar lower-cost options.

Interest Rate Changes: Fluctuations in interest rates impact bond values and, to a lesser extent, equity valuations within the fund.

Inflation: Rising inflation can erode investment returns, particularly for fixed-income assets within the fund.

Currency Fluctuations: If the fund invests in foreign assets, currency exchange rate movements can impact its value in Euros.