Global Market Sentiment: Overall investor confidence and risk appetite, influenced by economic news and geopolitical events, impact demand for emerging market equities like those held in WICVX.

Emerging Market Performance: The economic health and growth prospects of emerging market countries significantly influence returns, as these are the primary markets where the fund invests.

Currency Fluctuations: Changes in exchange rates between the US dollar and the currencies of the emerging markets where WICVX invests can either increase or decrease returns.

Fund Management Expertise: The investment strategies and skill of the fund's managers in selecting and managing its portfolio affect its performance relative to its benchmark.

Interest Rate Changes: Shifts in global interest rates, particularly in the US and emerging markets, can impact the valuation of equities held by WICVX.

Commodity Prices: As many emerging market economies rely on commodity exports, changes in commodity prices (oil, metals, etc.) can affect corporate earnings and thus WICVX's returns.

Inflation Rates: High inflation in emerging markets can erode corporate profitability and investor sentiment, potentially decreasing the fund's value.