Because past performance isn't a predictor of future performance, at least in the stock market. ETFs/Hedge funds can have particular features, like equity prot

Because past performance isn't a predictor of future performance, at least in the stock market. ETFs/Hedge funds can have particular features, like equity protection or exposure to a certain market or markets, instead of growth. You wouldn't expect a bond fund to out perform the total market index, that's not it's purpose. It's purpose is to protect your wealth in case of a downturn. Similarly, some hedgefunds (private equity and arkk are probably two good examples) that seek to find that rare 10X company that they can make millions or billions from, and are okay with generally losing most of their bets.