I would say that is the problem with ETF's. The gains are muted...

I would say that is the problem with ETF's.

The gains are muted as the ETF manager needs to make a profit off you and the losses are amplified as they still need to make a profit from you.
This is one major issue with the value proposition of the Raiz service. Both Raiz and the ETF managers need to make a profit off you, regardless of fund performance. So what is left for you? You get the crumbs off the profit from the investment of your own money or an amplified loss as fees are deducted from your diminished capital.