Market Conditions: Overall stock market performance significantly impacts SMXAX. Positive market sentiment generally boosts the fund's value.

Interest Rates: Rising interest rates can negatively affect bond values held within the fund, potentially lowering its price.

Inflation: High inflation erodes the purchasing power of returns, possibly reducing investor demand for the fund.

Fund Holdings: The performance of individual stocks and bonds within SMXAX's portfolio directly influences its net asset value.

Expense Ratio: A higher expense ratio can detract from returns, making the fund less attractive compared to lower-cost alternatives.

Fund Manager Performance: The fund manager's investment decisions impact the fund's overall return and therefore its price.

Investor Demand: Increased demand for SMXAX can drive up its price, while redemptions can exert downward pressure.

Economic Growth: Strong economic growth usually supports corporate earnings and bond yields, positively affecting SMXAX's value.

Sector Performance: The performance of specific sectors that SMXAX invests in will drive returns.

Global Events: Geopolitical events can influence market sentiment and affect the fund's value.