Japanese Stock Market Performance: UJPSX invests in Japanese stocks, so the overall health and performance of the Japanese stock market directly impacts its value.

Yen/Dollar Exchange Rate: Changes in the value of the Japanese Yen relative to the US dollar affect the fund's returns when converted back into USD.

Japanese Economic Data: Economic indicators such as GDP growth, inflation, and employment rates in Japan can influence investor sentiment and stock valuations.

Interest Rate Policies: The Bank of Japan's interest rate decisions and monetary policies can impact borrowing costs and economic activity, affecting stock prices.

Global Economic Conditions: Global economic factors, including international trade, geopolitical events, and the performance of other major economies, influence investor confidence and capital flows.

Company-Specific News: News and performance of the individual companies held within the UJPSX portfolio can impact its overall value.

Investor Sentiment: Overall investor sentiment towards Japanese equities can drive demand for UJPSX and affect its price.

Fund Management Strategy: The fund manager's investment decisions, stock selection process, and portfolio allocation strategies can influence performance.