The WisdomTree U.S. LargeCap Dividend ETF (DLN) made its debut on 06/16/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Large Cap Value category of the market.What Are Smart Beta ETFs?The ETF industry has traditionally been dominated by products based on market capitalization weighted indexes that are designed to represent the market or a particular segment of the market.Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency.There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix of such characteristics.Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.Fund Sponsor & IndexThe fund is managed by Wisdomtree, and has been able to amass over $3.29 billion, which makes it one of the average sized ETFs in the Style Box - Large Cap Value. This particular fund, before fees and expenses, seeks to match the performance of the WisdomTree U.S. LargeCap Dividend Index.The WisdomTree U.S. LargeCap Dividend Index is a fundamentally weighted index that measures the performance of the large-capitalization segment of the U.S. dividend-paying market.Cost & Other ExpensesExpense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.Operating expenses on an annual basis are 0.28% for this ETF, which makes it on par with most peer products in the space.It's 12-month trailing dividend yield comes in at 2.72%.Sector Exposure and Top HoldingsMost ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.DLN's heaviest allocation is in the Healthcare sector, which is about 17.40% of the portfolio. Its Consumer Staples and Information Technology round out the top three.Looking at individual holdings, Microsoft Corp (MSFT) accounts for about 4.22% of total assets, followed by Exxon Mobil Corp (XOM) and Apple Inc (AAPL).The top 10 holdings account for about 26.94% of total assets under management.Performance and RiskYear-to-date, the WisdomTree U.S. LargeCap Dividend ETF has lost about -13.42% so far, and is down about -5.38% over the last 12 months (as of 09/27/2022). DLN has traded between $56.25 and $66.91 in this past 52-week period.The fund has a beta of 0.88 and standard deviation of 23.06% for the trailing three-year period, which makes DLN a medium risk choice in this particular space. With about 299 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree U.S. LargeCap Dividend ETF is an excellent option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $47.62 billion in assets, Vanguard Value ETF has $90.57 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.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 WisdomTree U.S. LargeCap Dividend ETF (DLN): ETF Research Reports Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Exxon Mobil Corporation (XOM): Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research