If you're interested in broad exposure to the Small Cap Value segment of the US equity market, look no further than the Vanguard Russell 2000 Value ETF (VTWV), a passively managed exchange traded fund launched on 09/22/2010.The fund is sponsored by Vanguard. It has amassed assets over $200.55 M, making it one of the average sized ETFs attempting to match the Small Cap Value segment of the US equity market.Why Small Cap ValueWith more potential comes more risk, and small cap companies, with market capitalization below $2 billion, epitomizes this way of thinking.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. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.CostsInvestors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.Annual operating expenses for this ETF are 0.20%, making it one of the least expensive products in the space.It has a 12-month trailing dividend yield of 1.56%.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 to the Financials sector--about 30.70% of the portfolio. Industrials and Consumer Discretionary round out the top three.Looking at individual holdings, Bluebird Bio Inc. (BLUE) accounts for about 0.51% of total assets, followed by Mgic Investment Corp. (MTG) and Sterling Bancorp/de (STL).The top 10 holdings account for about 4.63% of total assets under management.Performance and RiskVTWV seeks to match the performance of the Russell 2000 Value Index before fees and expenses. The Russell 2000 Value Index measures the performance of the small-cap value segment of the U.S. equity universe.The ETF has gained about 4.74% so far this year and was up about 16.45% in the last one year (as of 05/22/2018). In the past 52-week period, it has traded between $98.04 and $114.60.The ETF has a beta of 1.04 and standard deviation of 15.56% for the trailing three-year period, making it a medium risk choice in the space. With about 1402 holdings, it effectively diversifies company-specific risk.AlternativesVanguard Russell 2000 Value 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, VTWV is a sufficient option for those seeking exposure to the Small Cap ETFs area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 2000 Value ETF (IWN) and the Vanguard Small-Cap Value ETF (VBR) track a similar index. While iShares Russell 2000 Value ETF has $9.71 B in assets, Vanguard Small-Cap Value ETF has $13.39 B. IWN has an expense ratio of 0.24% and VBR 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 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 Sterling Bancorp (STL): Free Stock Analysis Report VIPERS-SC VALUE (VBR): ETF Research Reports ISHARS-RS 2K VL (IWN): ETF Research Reports VANGD-RUS 2000V (VTWV): ETF Research Reports MGIC Investment Corporation (MTG): Free Stock Analysis Report bluebird bio, Inc. (BLUE): Free Stock Analysis Report To read this article on Zacks.com click here.