Interest Rates: Rising interest rates generally decrease bond prices, as newly issued bonds offer higher yields, making existing lower-yielding bonds less attractive.

Credit Spreads: Widening credit spreads, reflecting increased perceived risk in high-yield bonds, often lead to price declines as investors demand higher compensation for the risk.

Economic Growth: Stronger economic growth typically improves corporate financial health, reducing default risk and supporting higher bond prices. Conversely, economic slowdowns can negatively impact bond prices.

Inflation: Higher inflation erodes the real value of fixed income payments, potentially leading to lower bond prices as investors seek higher yields to compensate.

Market Sentiment: Investor confidence and risk appetite significantly influence high-yield bond prices; positive sentiment can drive prices up, while negative sentiment can trigger sell-offs.

Fund Flows: Large inflows into the fund can increase demand and potentially push prices higher, while significant outflows can pressure prices downward.

Underlying Bond Performance: The performance of the individual high-yield bonds held within the fund directly affects the overall fund price; positive or negative changes in the value of these bonds will impact FHYLCX.US.

Management Expertise: The skill and experience of the fund manager in selecting and managing high-yield bonds can impact the fund's performance and consequently its price.