Designed to provide broad exposure to the Large Cap Growth segment of the US equity market, the iShares S&P 500 Growth ETF (IVW) is a passively managed exchange traded fund launched on 05/22/2000.The fund is sponsored by Blackrock. It has amassed assets over $37.35 billion, making it one of the largest ETFs attempting to match the Large Cap Growth segment of the US equity market.Why Large Cap GrowthLarge cap companies typically have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.Qualities of growth stocks include faster growth rates compared to the broader market, as well as higher valuations and higher than average sales and earnings growth rates. Something to keep in mind is the higher level of volatility that is affiliated with growth stocks. Even though growth stocks are more likely to outperform their value counterparts in strong bull markets, value stocks have a record of delivering better returns in almost all markets than growth stocks.CostsSince cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.Annual operating expenses for this ETF are 0.18%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 0.56%.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 Information Technology sector--about 41.30% of the portfolio. Consumer Discretionary and Telecom round out the top three.Looking at individual holdings, Apple Inc (AAPL) accounts for about 11.24% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).The top 10 holdings account for about 50.11% of total assets under management.Performance and RiskIVW seeks to match the performance of the S&P 500 Growth Index before fees and expenses. The S&P 500 Growth Index measures the performance of the large capitalization growth sector of the U.S. equity market.The ETF has added roughly 24.63% so far this year and it's up approximately 33.18% in the last one year (as of 10/20/2021). In the past 52-week period, it has traded between $56.17 and $79.The ETF has a beta of 0.98 and standard deviation of 24% for the trailing three-year period, making it a medium risk choice in the space. With about 243 holdings, it effectively diversifies company-specific risk.AlternativesIShares S&P 500 Growth ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, IVW is an outstanding option for investors seeking exposure to the Style Box - Large Cap Growth segment of the market. There are other additional ETFs in the space that investors could consider as well.The Vanguard Growth ETF (VUG) and the Invesco QQQ (QQQ) track a similar index. While Vanguard Growth ETF has $86.14 billion in assets, Invesco QQQ has $193.61 billion. VUG has an expense ratio of 0.04% and QQQ charges 0.20%.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 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 iShares S&P 500 Growth ETF (IVW): ETF Research Reports Amazon.com, Inc. (AMZN): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Invesco QQQ (QQQ): ETF Research Reports Vanguard Growth ETF (VUG): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research