Expense Ratio: Lower expense ratios mean more of the fund's returns go to investors, potentially increasing its price over time.

Fund Manager Skill: A skilled fund manager who makes good investment decisions can lead to higher returns and a higher fund price.

Underlying Asset Performance: The price of PVEJX is directly impacted by the performance of the various underlying Vanguard mutual funds it invests in.

Market Conditions: Overall market trends (bull or bear markets) and economic conditions significantly influence the performance of the underlying funds and, consequently, PVEJX.

Asset Allocation Strategy: The fund's target allocation to different asset classes (stocks, bonds, etc.) affects its risk and return profile, influencing its price based on market sentiment towards those assets.

Interest Rate Changes: Rising interest rates can negatively impact bond values in the underlying funds, potentially decreasing PVEJX's price, while lower rates can have the opposite effect.

Inflation: Higher inflation can erode investment returns and may lead to lower valuations, potentially affecting the price of PVEJX.

Fund Flows: Large inflows or outflows of money into or out of the fund can impact the fund's trading activity and, potentially, its price, although this effect is generally less pronounced for larger funds.

Global Economic Events: Geopolitical events, economic crises, and other global events can impact market sentiment and the performance of various asset classes, influencing the price of PVEJX.