Despite the fact that there were two crashes in 2016 and 2020 when STI went below 3,000, most investors made >2.5% return when you look at the 5 and 6 year cumulative returns.
For Oct 2019 to Sep 2020, despite the market crash, it is frankly impressive that 50% of investors are still positive. But 12-mth performance is meaningless. I could have bought STI ETF for $1.50 10 years ago and every year collect >2.5% dividend. But because 10/19 to 9/20, STI ETF dropped, I would be considered to have 'lost money'.