Issue with Loop step in workflow

We facing issue with Loop configuration in workflow process. Please find the steps followed

Steps:1. Use create reference for the SmartObject returning list2. Reference item has been created3. Configure loop pointing to the reference item4. Created loop index as well

Issue: If list is returning 20 items, loop is also running for the same count but we are not able to fetch the current iteration values from the reference item. If we are fetching the reference item values, blank data is coming for each iteration.