Why are global index funds (US dominated) doing so much worse than for example NASDAQ ?

I thought that global funds would do well as long as US companies do well, but when I look in my portfolio, my global index fund is only up 0.5% for 1 year while the NASDAQ is up around 20% for 1 year and when I look over time pretty much always been outperforming my index fund.

Edit:
this is my fund https://global.morningstar.com/sv/investeringar/fonder/F00000QD6R/citat

It is supposed to track MSCI World ex Select Securities Index, I read.