Global Market Performance: Broad market trends in international developed economies significantly impact FSPSX's holdings and overall performance.

Currency Fluctuations: Changes in exchange rates between the US dollar and other currencies where FSPSX's holdings are based affect its returns.

Economic Growth: The economic health and growth prospects of developed nations influence the profitability of companies within FSPSX's portfolio.

Interest Rates: Interest rate policies of major central banks in developed countries can affect borrowing costs and investment valuations.

Geopolitical Events: Political instability, trade disputes, or other international events can create volatility and impact investment values.

Company Performance: The success and profitability of individual companies held within FSPSX directly affects its price.

Investor Sentiment: Overall investor optimism or pessimism towards international developed markets influences demand for FSPSX shares.