Designed to provide broad exposure to the Technology - Broad segment of the equity market, the ARK Innovation ETF (ARKK) is a passively managed exchange traded fund launched on 10/31/2014.An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Technology - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 3, placing it in top 19%.Index DetailsThe fund is sponsored by Ark Investment Management. It has amassed assets over $1.34 B, making it one of the average sized ETFs attempting to match the performance of the Technology - Broad segment of the equity market.This ETF is active and does not track a benchmark.CostsWhen considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.Annual operating expenses for this ETF are 0.75%, making it one of the most expensive products in the space.It has a 12-month trailing dividend yield of 0.19%.Sector Exposure and Top HoldingsWhile ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.Looking at individual holdings, Tesla Inc (TSLA) accounts for about 8.33% of total assets, followed by Intellia Therapeutics Inc (NTLA) and Stratasys Ltd (SSYS).The top 10 holdings account for about 48.12% of total assets under management.Performance and RiskYear-to-date, the ARK Innovation ETF has added roughly 26.03% so far, and is up about 38.73% over the last 12 months (as of 09/10/2018). ARKK has traded between $33.25 and $49.70 in this past 52-week period.The ETF has a beta of 1.47 and standard deviation of 22.23% for the trailing three-year period, making it a medium risk choice in the space. With about 46 holdings, it has more concentrated exposure than peers.Bottom LineTo learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ARK-INNOVATION (ARKK): ETF Research Reports Tesla, Inc. (TSLA): Free Stock Analysis Report Stratasys, Ltd. (SSYS): Free Stock Analysis Report Intellia Therapeutics, Inc. (NTLA): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research