Market Interest Rates: Rising interest rates generally decrease bond prices, as newly issued bonds offer higher yields, making older bonds less attractive.

Credit Quality: Changes in the credit ratings of the bonds held in the fund directly affect its perceived risk and therefore its price. Downgrades often lead to price declines.

Inflation Expectations: Higher inflation expectations erode the real value of fixed-income investments, leading to lower bond prices and potentially impacting FRNJX.US.

Economic Growth: Strong economic growth can lead to higher interest rates and inflation, negatively impacting bond prices within the fund.

Fund Management Expertise: The skills of the fund managers in selecting and managing the bond portfolio influence its performance and subsequently its price.

Supply and Demand: The overall demand for and supply of bonds impacts the prices of bonds in the fund's portfolio and hence the fund's net asset value (NAV).