Looking for broad exposure to the Mid Cap Value segment of the US equity market? You should consider the WisdomTree U.S. MidCap Dividend ETF (DON), a passively managed exchange traded fund launched on 06/16/2006.The fund is sponsored by Wisdomtree. It has amassed assets over $3.14 billion, making it one of the larger ETFs attempting to match the Mid Cap Value segment of the US equity market.Why Mid Cap ValueCompared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus they have a nice balance of growth potential and stability.Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have lower than average sales and earnings growth rates. Considering long-term performance, value stocks have outperformed growth stocks in almost all markets; however, they are more likely to underperform growth stocks in strong bull markets.CostsCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.Annual operating expenses for this ETF are 0.38%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 2.13%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Financials sector--about 26% of the portfolio. Industrials and Utilities round out the top three.Looking at individual holdings, Evergy Inc (EVRG) accounts for about 1.29% of total assets, followed by Omnicom Group Inc (OMC) and Fidelity National Financial Inc (FNF).The top 10 holdings account for about 10.88% of total assets under management.Performance and RiskDON seeks to match the performance of the WisdomTree U.S. MidCap Dividend Index before fees and expenses. The WisdomTree U.S. MidCap Dividend Index is a fundamentally weighted index that measures the performance of the mid-capitalization segment of the US dividend-paying market.The ETF has lost about -1.20% so far this year and it's up approximately 16.44% in the last one year (as of 03/04/2022). In the past 52-week period, it has traded between $39.16 and $45.27.The ETF has a beta of 1.11 and standard deviation of 27.98% for the trailing three-year period, making it a medium risk choice in the space. With about 343 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree U.S. MidCap Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, DON is a reasonable option for those seeking exposure to the Style Box - Mid Cap Value area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell MidCap Value ETF (IWS) and the Vanguard MidCap Value ETF (VOE) track a similar index. While iShares Russell MidCap Value ETF has $14.76 billion in assets, Vanguard MidCap Value ETF has $16.06 billion. IWS has an expense ratio of 0.23% and VOE charges 0.07%.Bottom-LineWhile an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.To 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 key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 WisdomTree U.S. MidCap Dividend ETF (DON): ETF Research Reports Omnicom Group Inc. (OMC): Free Stock Analysis Report Fidelity National Financial, Inc. (FNF): Free Stock Analysis Report Vanguard MidCap Value ETF (VOE): ETF Research Reports iShares Russell MidCap Value ETF (IWS): ETF Research Reports Evergy Inc. (EVRG): Free Stock Analysis Report To read this article on Zacks.com click here.