Currently if you own shares in an index fund, you don’t get to vote the underlying corporate shares that are owned by that index fund
Instead, the institution that created the index fund gets that vote- with your money.
This leads to total unaccountability of those corporations, and that is part of why woke policy has become endemic to many corporations who no longer care if they’re making decisions that are solely in the fiduciary interests of the shareholders.
A small cadre of executives decide to run your investments into the ground, then walk away to the next one. Rinse, repeat.