Active managers make way more money selling their fund and increasing deposits than actually beating the market. So they will do things like promote "downside

Active managers make way more money selling their fund and increasing deposits than actually beating the market. So they will do things like promote "downside protection", claiming that their returns will be close to Russel 2000, but 90% less likely to go down by 2x more than the Russel 2000 in any year. Which is bullshit because anyone could put 80% of their money in Russel 2000 and 10% in cash and 10% in gold and get the same guarantee without paying anyone for it.