Performance of Underlying Assets: XAEFX.US's price is directly tied to the performance of the assets it holds, primarily other Fidelity mutual funds. Strong performance in these underlying funds leads to a higher NAV and thus a higher price.

Market Conditions: Overall market sentiment and economic conditions influence investor demand for the fund. Bull markets generally boost demand and price, while bear markets do the opposite.

Interest Rates: Changes in interest rates can affect the attractiveness of XAEFX.US relative to other investment options. Rising rates might make bond funds more appealing, potentially decreasing demand for XAEFX.US.

Fund Flows: Large inflows into XAEFX.US can drive up its price temporarily, while significant outflows can put downward pressure on the price as the fund manager needs to sell assets.

Expense Ratio: The fund's expense ratio impacts its overall return. Higher expenses reduce the net return to investors, which can make the fund less attractive and influence its price negatively over time.

Management Expertise: The skill and experience of the fund's management team in selecting and managing the underlying assets can impact the fund's performance and ultimately its price.

Investor Sentiment: General investor confidence or fear towards the market can influence buying and selling decisions, affecting the supply and demand for XAEFX.US and subsequently its price.