The iShares Morningstar Large-Cap Value ETF (JKF) was launched on 06/28/2004, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.The fund is sponsored by Blackrock. It has amassed assets over $481.16 M, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.Why Large Cap ValueLarge cap companies usually have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their 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.CostsExpense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.Annual operating expenses for this ETF are 0.25%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 2.72%.Sector Exposure and Top HoldingsIt is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Financials sector--about 28.40% of the portfolio. Consumer Staples and Information Technology round out the top three.Looking at individual holdings, Berkshire Hathaway Inc Class B (BRK.B) accounts for about 6.62% of total assets, followed by Jpmorgan Chase & Co (JPM) and Exxon Mobil Corp (XOM).The top 10 holdings account for about 43.27% of total assets under management.Performance and RiskJKF seeks to match the performance of the Morningstar Large Value Index before fees and expenses. The Morningstar Large Value Index measures the performance of stocks issued by large-capitalization comp that have exhibited value characteristics.The ETF has added about 10.44% so far this year and is up roughly 5.72% in the last one year (as of 05/13/2019). In the past 52-week period, it has traded between $91.27 and $110.09.The ETF has a beta of 0.88 and standard deviation of 11.67% for the trailing three-year period, making it a medium risk choice in the space. With about 72 holdings, it effectively diversifies company-specific risk.AlternativesIShares Morningstar Large-Cap 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, JKF is a sufficient option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $38.28 B in assets, Vanguard Value ETF has $47.31 B. IWD has an expense ratio of 0.20% and VTV charges 0.04%.Bottom-LineAn 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.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 iShares Morningstar Large-Cap Value ETF (JKF): ETF Research Reports JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports Berkshire Hathaway Inc. (BRK.B): Free Stock Analysis Report Exxon Mobil Corporation (XOM): Free Stock Analysis Report To read this article on Zacks.com click here.