Launched on 05/16/2017, the IQ Chaikin U.S. Small Cap ETF (CSML) is a passively managed exchange traded fund designed to provide a broad exposure to the Small Cap Blend segment of the US equity market.The fund is sponsored by Indexiq. It has amassed assets over $390.61 M, making it one of the average sized ETFs attempting to match the Small Cap Blend segment of the US equity market.Why Small Cap BlendSitting at a market capitalization below $2 billion, small cap companies tend to be high-potential stocks compared to its large and mid cap counterparts, but come with higher risk.Blend ETFs usually hold a mix of growth and value stocks as well as stocks that exhibit both value and growth characteristics.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 0.35%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.81%.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 to the Industrials sector--about 27.40% of the portfolio. Financials and Consumer Discretionary round out the top three.Looking at individual holdings, Renewable Energy Group Inc (REGI) accounts for about 1.16% of total assets, followed by First Bancorp/puerto Rico (FBP) and Liberty Tripadvisor Hdg-A (LTRPA).The top 10 holdings account for about 8.16% of total assets under management.Performance and RiskCSML seeks to match the performance of the NASDAQ Chaikin Power US Small Cap Index before fees and expenses. The NASDAQ Chaikin Power US Small Cap Index is a rules-based, quantitative index designed to enhance the NASDAQ US 1500 Index, by selecting stocks with the highest Chaikin Power Gauge rating.The ETF has added roughly 17.85% so far this year and is down about -5.09% in the last one year (as of 02/18/2019). In the past 52-week period, it has traded between $21.19 and $29.80.The ETF has a beta of 1.23 and standard deviation of 16.09% for the trailing three-year period. With about 206 holdings, it effectively diversifies company-specific risk.AlternativesIQ Chaikin U.S. Small Cap 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, CSML is a reasonable option for those seeking exposure to the Style Box - Small Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 2000 ETF (IWM) and the iShares Core S&P Small-Cap ETF (IJR) track a similar index. While iShares Russell 2000 ETF has $43.91 B in assets, iShares Core S&P Small-Cap ETF has $44.88 B. IWM has an expense ratio of 0.19% and IJR charges 0.07%.Bottom-LineRetail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds 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 IQ Chaikin U.S. Small Cap ETF (CSML): ETF Research Reports Liberty TripAdvisor Holdings, Inc. (LTRPA): Free Stock Analysis Report First BanCorp. (FBP): Free Stock Analysis Report iShares Core S&P Small-Cap ETF (IJR): ETF Research Reports iShares Russell 2000 ETF (IWM): ETF Research Reports Renewable Energy Group, Inc. (REGI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research