Many years ago I used to make my own soil, and that Sweet Flag was planted in my hand made mud, a blend of river clay right fresh out of the river, mixed with peat and a small bit of top soil, the key is to have enough river mud (clay) to hold the blend together. That was like 22 years ago, and back then their was not to much selection for pond plants around here. The greenhouses used to sell Sera Water Garden products, I don't even know if the company is still around cause you don't see them anymore. That big Sweet flag is still sitting in that basket, trouble is you can't find the basket anymore....
I used to work at this greenhouse making pond plants that I used to sell, used to plant up lots of plants in this like Parrots feather, clones from unbrella palms, grasses, rushes, iries, etc. Then you could place larger rocks over top, or keep the basket close to the water surface so fish can't get in and made a big mess. Lots of people these days choose kitty litter and that works good as well and is much less messy.
I discovered over the years that some plants with large rhizomes or tubers, like to "run loose" in the pond and make there own soil or sod, I discovered that if you have a rocked shallow edge, just wedge in the rhizome to hold it in place till it gets growing, or just float a small clump of yellow flag with no soil at all, and tie it to the edge so it does not move about, and they grow well there and their long roots just dangle straight down in the water, and the fish love to swim under it!