Command Substitution doesn’t work with spaces [duplicate]

I’m trying to pass a list of image files to open gwenview. The only way that seems to work is to list them on command line. However, some file paths have spaces, so they have to be additionally quoted. I thought that this will work:

gwenview $(echo "file1 with spaces.png")

However gwenview only sees “file1” ignoring the rest of the text. I thought command substitution will faithfully replace $(echo "file1 with spaces.png") with “file1 with spaces.png” – what’s going on?