The WisdomTree U.S. SmallCap Quality Dividend Growth ETF (DGRS) made its debut on 07/25/2013, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Small Cap Blend category of the market.What Are Smart Beta ETFs?The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.Fund Sponsor & IndexManaged by Wisdomtree, DGRS has amassed assets over $212.51 million, making it one of the average sized ETFs in the Style Box - Small Cap Blend. DGRS, before fees and expenses, seeks to match the performance of the WisdomTree U.S. SmallCap Quality Dividend Growth Index.The WisdomTree U.S. SmallCap Quality Dividend Growth Index is a fundamentally weighted index that consists of the small-capitalization segment of dividend-paying stocks with growth characteristics.Cost & Other ExpensesInvestors 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.Operating expenses on an annual basis are 0.38% for this ETF, which makes it on par with most peer products in the space.The fund has a 12-month trailing dividend yield of 2.87%.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 in the Industrials sector - about 24.20% of the portfolio. Financials and Consumer Discretionary round out the top three.Looking at individual holdings, Epr Properties (EPR) accounts for about 2.36% of total assets, followed by Spire Inc (SR) and One Gas Inc (OGS).The top 10 holdings account for about 18.02% of total assets under management.Performance and RiskYear-to-date, the WisdomTree U.S. SmallCap Quality Dividend Growth ETF has lost about -15.76% so far, and is down about -8.69% over the last 12 months (as of 09/16/2022). DGRS has traded between $38.41 and $48.57 in this past 52-week period.DGRS has a beta of 1.09 and standard deviation of 32.92% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 290 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree U.S. SmallCap Quality Dividend Growth ETF is a reasonable option for investors seeking to outperform the Style Box - Small Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.IShares Core Dividend Growth ETF (DGRO) tracks Morningstar US Dividend Growth Index and the Vanguard Dividend Appreciation ETF (VIG) tracks NASDAQ US Dividend Achievers Select Index. IShares Core Dividend Growth ETF has $22.95 billion in assets, Vanguard Dividend Appreciation ETF has $60.95 billion. DGRO has an expense ratio of 0.08% and VIG charges 0.06%.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 - Small Cap Blend.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. SmallCap Quality Dividend Growth ETF (DGRS): ETF Research Reports Spire Inc. (SR): Free Stock Analysis Report EPR Properties (EPR): Free Stock Analysis Report ONE Gas, Inc. (OGS): Free Stock Analysis Report Vanguard Dividend Appreciation ETF (VIG): ETF Research Reports iShares Core Dividend Growth ETF (DGRO): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research