Yes, that's why an old method is to trade the mutual fund manager stocks to earn better returns than the mutual funds. The key is to discern the purpose of a mutual fund and the purpose someone employed in the business. An investor seeks return for their money and a manager seeks a profitable living. The two are not very well aligned.
Decades ago as I was testing brokers, I ended up doing my own trading. I am light years ahead for than one decision. My reasoning - there was likely someone who would be able to earn better returns than I; but my account was too small for them to worry about. Now my account is big enough for them to worry about, but I don't trust them. Most, like traders, have flamed out.
