Brothers, I bought a fund and feel something's not right. Could someone knowledgeable please help me look into it?

I bought in 2020 for over 17000

And then lost money every year

Except for last year when I recovered over 5000, the rest have been losses

But today I accidentally opened the fund manager's management

Surprisingly, they have been making a profit every year? Strange, why do users lose money while the fund manager can make money?

Is it possible that domestic funds are also hedging?

Yes, I was the one being hedged.