Market Sentiment: Overall investor confidence and risk appetite influence fund flows and asset valuations, impacting the fund's Net Asset Value (NAV).

Underlying Asset Performance: The price of the fund reflects the performance of the bonds it holds. Rising bond prices generally increase the fund's NAV.

Interest Rate Changes: Increases in interest rates typically lead to a decrease in bond values, negatively impacting the fund. Conversely, rate cuts usually boost bond prices.

Credit Risk: Changes in the creditworthiness of issuers whose bonds are held in the fund can affect the value of those bonds and, therefore, the fund's NAV.

Inflation Expectations: Rising inflation can erode the real value of fixed income investments, potentially leading to lower bond prices and a decline in the fund's NAV.

Currency Fluctuations: For funds holding bonds denominated in currencies other than the fund's base currency, exchange rate movements can impact returns.

Fund Management Fees: The fund's expense ratio, including management fees, directly reduces the returns available to investors.

Supply and Demand: High demand for the fund relative to its available units can drive up its price, while increased selling pressure can lead to price declines.