Fund Performance: Stronger fund performance typically attracts more investors, increasing demand and potentially the fund's price.

Market Conditions: Overall market sentiment and performance in the sectors FSRAX invests in will influence its price.

Interest Rates: Changes in interest rates can affect bond yields and the attractiveness of fixed-income investments within the fund.

Inflation: Rising inflation can erode the value of fixed-income assets, potentially impacting the fund's price negatively.

Credit Risk: Downgrades or defaults of bonds held within the fund can lead to price declines.

Management Expertise: The skill and experience of the fund's managers in selecting and managing investments affect performance.

Expense Ratio: A lower expense ratio makes the fund more attractive, potentially increasing demand and its price over time.

Investor Sentiment: Positive or negative sentiment toward the fund or its investment strategy can drive buying or selling pressure.

Fund Flows: Large inflows of cash into the fund can put upward pressure on its price, while outflows can have the opposite effect.