Global Interest Rates: Changes in interest rates globally, especially in developed economies, influence FEKTLX.US returns.

Economic Growth: Slower global economic growth can negatively impact returns, while stronger growth boosts them.

Currency Fluctuations: Movements in foreign exchange rates affect the dollar value of the fund's international holdings.

Geopolitical Risk: Political instability and global events can significantly impact market sentiment and fund performance.

Inflation Rates: Rising inflation in key markets can erode real returns and impact central bank policies.

Commodity Prices: Fluctuations in commodity prices, particularly oil, can affect energy-related investments within the fund.

Investor Sentiment: Overall market optimism or pessimism greatly influences fund flows and consequently, returns.

Fund Management: Decisions made by the fund managers, like stock picking and asset allocation, affect fund performance.