Comparing the aggregate performance of your aussie share...

Comparing the aggregate performance of your aussie share portfolio against the ASX 300 etf is a good idea.
Instos however manage funds with rules set by other instos. For a typical small cap mandate, the benchmark is the Small Ords. As most mandates at insto level are relative mandates. Also, typically, the fundie is allowed to have a limited exposure to non benchmark stocks. The small ords is a subset of the ASX300 - basically consists of stocks ranked from 101 to 300. Something like $55 m mkt cap to just over $2 bill mkt cap.
Microcaps generally mean stocks with mkt cap less than $300m. So there is cross over. But there are something like 1800 listed microcap stocks on ASX compared to the official 200 small cap stocks listed on the ASX.
But Yoda agrees. The performance of CGA small caps and CGA micros same. Poor.