No, because the government isn't willing to take the same risks that private citizens are.

? The government takes enormous risks that no private citizen or company ever would. Extremely long term esoteric research that might never earn a profit, investing in programs that don't earn any financial profit (healthcare, firefighting, public libraries, etc.), huge loans and grants to cutting edge businesses that might fail (Tesla, Solyndra, Moderna, etc.), building up huge stockpiles of resources in case of emergency, and so on.

How is the US sovereign wealth fund doing?

Can’t have a sovereign wealth fund while simultaneously issuing the world’s reserve currency!

So government owned means of production?