I have large assets with CI and some ETFs but your analysis seems biased to favour Cambridge products. Here is why:
1. Arbitrage - If an ETF is off, its NAV intraday, arbitrageurs will bring valuations back in line fairy quickly and certainly by day's end (if you believe in capitalism.)
2. Halted stocks and ETFs - Don't forget mutual funds are effectively halted all day everyday. I cannot enter or exit a position until the day's end. Your product is still inferior.
3. Volatility - Vol is created by those who hold the most assets. The mutual fund industry dwarfs the ETF business by assets. Mutual funds will always need to share more of the blame until the assets tilt the other way.
4. Intraday values - I wish the intraday values on your mutual funds were posted to show how bad the fund got during the worst part of the day. Your funds hold the same stocks you mention and therefore the intraday value of your funds will reflect similar downside.