If you're interested in broad exposure to the Financials - Insurance segment of the equity market, look no further than the SPDR S&P Insurance ETF (KIE), a passively managed exchange traded fund launched on 11/08/2005.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.Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Financials - Insurance is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 4, placing it in top 25%.Index DetailsThe fund is sponsored by State Street Global Advisors. It has amassed assets over $392.99 million, making it one of the average sized ETFs attempting to match the performance of the Financials - Insurance segment of the equity market. KIE seeks to match the performance of the S&P Insurance Select Industry Index before fees and expenses.The S&P Insurance Select Industry Index represents the insurance segment of the S&P Total Market Index.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 0.35%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 1.95%.Sector Exposure and Top HoldingsETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.This ETF has heaviest allocation in the Financials sector--about 100% of the portfolio.Looking at individual holdings, Trupanion Inc. (TRUP) accounts for about 2.54% of total assets, followed by Arthur J. Gallagher & Co. (AJG) and Kinsale Capital Group Inc. (KNSL).The top 10 holdings account for about 23.01% of total assets under management.Performance and RiskThe ETF has lost about -7.23% so far this year and is down about -0.02% in the last one year (as of 09/23/2022). In that past 52-week period, it has traded between $35.92 and $42.60.The ETF has a beta of 0.86 and standard deviation of 29.95% for the trailing three-year period, making it a medium risk choice in the space. With about 54 holdings, it effectively diversifies company-specific risk.AlternativesSPDR S&P Insurance ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, KIE is a great option for investors seeking exposure to the Financials ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.Invesco KBW Property & Casualty Insurance ETF (KBWP) tracks KBW Nasdaq Property & Casualty Index and the iShares U.S. Insurance ETF (IAK) tracks Dow Jones U.S. Select Insurance Index. Invesco KBW Property & Casualty Insurance ETF has $290.79 million in assets, iShares U.S. Insurance ETF has $330.64 million. KBWP has an expense ratio of 0.35% and IAK charges 0.39%.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 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 SPDR S&P Insurance ETF (KIE): ETF Research Reports Arthur J. Gallagher & Co. (AJG): Free Stock Analysis Report Trupanion, Inc. (TRUP): Free Stock Analysis Report iShares U.S. Insurance ETF (IAK): ETF Research Reports Kinsale Capital Group, Inc. (KNSL): Free Stock Analysis Report Invesco KBW Property & Casualty Insurance ETF (KBWP): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research