If you're interested in broad exposure to the Mid Cap Value segment of the US equity market, look no further than the iShares Russell MidCap Value ETF (IWS), a passively managed exchange traded fund launched on 07/17/2001.The fund is sponsored by Blackrock. It has amassed assets over $13.58 billion, making it one of the largest ETFs attempting to match the Mid Cap Value segment of the US equity market.Why Mid Cap ValueMid cap companies have market capitalization between $2 billion and $10 billion. They usually have higher growth prospects than large cap companies and are less volatile than small cap companies. Thus, companies that fall under this category provide a stable and growth-heavy investment.Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have 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.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 0.23%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 1.80%.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 18.50% of the portfolio. Industrials and Real Estate round out the top three.Looking at individual holdings, Realty Income Reit Corp (O) accounts for about 0.67% of total assets, followed by Corteva Inc (CTVA) and Phillips 66 (PSX).Performance and RiskIWS seeks to match the performance of the Russell MidCap Value Index before fees and expenses. The Russell Midcap Value Index measures the performance of the mid-capitalization value sector of the U.S. equity market.The ETF has lost about -9.56% so far this year and is down about -4.64% in the last one year (as of 12/06/2022). In the past 52-week period, it has traded between $96.05 and $123.59.The ETF has a beta of 1.08 and standard deviation of 28.03% for the trailing three-year period, making it a medium risk choice in the space. With about 709 holdings, it effectively diversifies company-specific risk.AlternativesIShares Russell MidCap Value 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, IWS is a great option for investors seeking exposure to the Style Box - Mid Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.The iShares S&P MidCap 400 Value ETF (IJJ) and the Vanguard MidCap Value ETF (VOE) track a similar index. While iShares S&P MidCap 400 Value ETF has $7.82 billion in assets, Vanguard MidCap Value ETF has $16.34 billion. IJJ has an expense ratio of 0.18% and VOE charges 0.07%.Bottom-LineWhile an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.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. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 Russell MidCap Value ETF (IWS): ETF Research Reports Realty Income Corporation (O): Free Stock Analysis Report Phillips 66 (PSX): Free Stock Analysis Report Vanguard MidCap Value ETF (VOE): ETF Research Reports iShares S&P MidCap 400 Value ETF (IJJ): ETF Research Reports Corteva, Inc. (CTVA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research