Market Interest Rates: Rising interest rates typically decrease bond prices (and thus bond fund NAVs like FQJIX.US) because new bonds offer higher yields, making older bonds less attractive.

Credit Quality: Downgrades in the credit ratings of bonds held by FQJIX.US can lower its NAV, while upgrades tend to increase it. Higher perceived risk leads to lower prices.

Economic Conditions: Strong economic growth may lead to inflation concerns and higher interest rates, negatively impacting bond prices. Conversely, economic slowdowns might increase demand for safe-haven assets like bonds.

Inflation Expectations: If investors expect higher inflation, bond yields will likely rise to compensate for the erosion of purchasing power, leading to lower bond prices.

Fund Management: The skill of the fund managers in selecting bonds and managing duration and credit risk affects the fund's performance relative to its benchmark, impacting its price.

Supply and Demand: High demand for the fund can drive up its price, while increased selling pressure can lower it, though this is less significant than underlying bond market factors.

Liquidity of Holdings: If the fund holds less liquid bonds, selling them quickly in response to redemptions may require price concessions, negatively affecting the fund's NAV.

Duration: Longer duration bonds are more sensitive to interest rate changes. FQJIX.US's duration influences how much its NAV will change in response to interest rate movements.

Call Provisions: Bonds with call provisions may be redeemed by the issuer if interest rates fall, limiting potential upside for the fund and potentially affecting its price.