The Australian fan favourite bogied his initial three holes at the Grange in Thursday's opening round.
Smith birdied the par-5 seventh hole to be two over after nine holes, six shots adrift of the leaders at the midpoint of the first round.
American star Dustin Johnson, Englishman Paul Casey and Northern Ireland's Graham McDowell are co-leaders at four under.
Australia's Marc Leishman and Spain's former world No.1 Jon Rahm are among a batch of seven golfers at three under at the halfway stage.
American Matthew Wolff, Sebastian Munoz and South Korean Danny Lee are a further shot back at two under.
Leishman's compatriot Elvis Smylie, who won on his LIV debut in last week's season-opening tournament in Saudi Arabia, is one under.
Their teammate on the all-Australian Ripper GC outfit, Lucas Herbert, is even par.
But team captain Smith, playing with Rahm and American drawcard Bryson DeChambeau (one under), hit just one green in regulation in his first four holes.
Smith, Rahm and DeChambeau, winners of five majors between them, attracted huge galleries on the opening of the fourth edition of an Adelaide event expected to attract more than 130,000 spectators over the four days.
Another Australian in the field, Wade Ormsby, who is a LIV reserve and was summoned to replace Phil Mickelsen who remains in the US because of family matter, is one over on his home sandbelt course in Adelaide's beachside western suburbs.
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