Emerging Markets Performance: JEMGX invests in emerging market stocks, so their overall performance significantly affects its price. Strong EM growth typically boosts JEMGX.

Interest Rate Changes: Interest rate hikes in developed nations can make EM investments less attractive, potentially lowering JEMGX's price. Conversely, rate cuts can be a positive.

Currency Fluctuations: Changes in emerging market currencies relative to the US dollar can impact JEMGX's returns. A stronger US dollar can negatively affect returns.

Geopolitical Risks: Political instability, trade wars, or conflicts in EM countries can trigger market sell-offs, leading to a decrease in JEMGX's value.

Commodity Prices: Many EM economies rely on commodity exports. Rising commodity prices can benefit these economies and JEMGX, while falling prices can hurt them.

Fund Manager's Skill: The expertise of the fund manager in selecting and managing EM investments plays a crucial role in JEMGX's performance and, consequently, its price.