Interest Rates: Rising rates typically decrease bond prices, negatively impacting FHWDX as bond values decline. Lower rates generally increase bond prices.

Credit Risk: Deteriorating creditworthiness of bond issuers held by FHWDX can lower bond prices, affecting the fund's value. Improved credit ratings boost prices.

Inflation Expectations: Higher inflation erodes bond values, reducing FHWDX's price. Lower inflation increases bond prices.

Economic Growth: Strong economic growth can lead to higher interest rates, depressing bond prices within FHWDX. Slow growth may boost bond prices as rates fall.

Market Sentiment: Investor confidence or fear impacts demand for bonds, affecting FHWDX's price. Increased risk aversion can drive investment into bonds.

Fund Flows: Large outflows from FHWDX may force the fund to sell assets, potentially lowering prices. Inflows can increase demand and prices.

Duration: FHWDX's duration, a measure of interest rate sensitivity, impacts price volatility. Higher duration means greater sensitivity to rate changes.

Liquidity: Lower liquidity in the bond market can decrease bond values, thus affecting the price of FHWDX. High liquidity facilitates trading, stabilizing prices.