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Singapore Sovereign Wealth Fund Is Outpacing the Country ETF

"Temasek, Singapore's second-largest sovereign wealth fund, [SWF] is certainly doing far better than Singapore exchange-traded funds such as the iShares MSCI Singapore (EWS) that is down almost 17% year-to-date.

The lesson is that it pays to play as a big boy with lots of cash and negotiating leverage."

Huh? Apples and oranges, no? Comparing funds that primarily invest in Singapore with a fund that can and does invest anywhere in the world? Sure, Temasek may be in Singapore but its investment parameters are very different. What am I missing here?