for even a small smsf fund say 500K, using 0.25%pa management...

for even a small smsf fund say 500K, using 0.25%pa management fee as your example, is still $1250 pa.
for a 2M smsf thats $5000 in management fees.... for what? not being able to even beat the index. over 90% of fund managers can't beat the index.

complete waste of money trusting those muppets with your money. so yeah, complete rubbish.