No it's precisely the opposite. You're gambling that you can beat the market for those 15 funds, index linked funds are gambling that the value of the market (i

No it's precisely the opposite. You're gambling that you can beat the market for those 15 funds, index linked funds are gambling that the value of the market (index) as a whole will increase and will try to perform to the market. To do that they buy shares in all of the companies that are in the linked index (in proportion).