A smart beta exchange traded fund, the FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT) debuted on 09/16/2011, and offers broad exposure to the Style Box - All Cap Blend category of the market.What Are Smart Beta ETFs?For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader 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.By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.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 & IndexThe fund is managed by Flexshares. TILT has been able to amass assets over $1.66 billion, making it one of the larger ETFs in the Style Box - All Cap Blend. Before fees and expenses, this particular fund seeks to match the performance of the Morningstar U.S. Market Factor Tilt Index.The Morningstar U.S. Market Factor Tilt Index measures the performance of U.S. equity markets with increased exposure toward small-capitalization and value stocks.Cost & Other ExpensesCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.Annual operating expenses for this ETF are 0.25%, making it on par with most peer products in the space.The fund has a 12-month trailing dividend yield of 1.21%.Sector Exposure and Top HoldingsWhile ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation in the Information Technology sector - about 23.90% of the portfolio. Financials and Healthcare round out the top three.Looking at individual holdings, Microsoft Corp Common Stock Usd 0.00000625 (MSFT) accounts for about 3.89% of total assets, followed by Apple Inc Common Stock Usd 0.00001 (AAPL) and Amazon.com Inc Common Stock Usd 0.01 (AMZN).The top 10 holdings account for about 18.48% of total assets under management.Performance and RiskSo far this year, TILT has lost about -4.02%, and is up about 19.79% in the last one year (as of 01/19/2022). During this past 52-week period, the fund has traded between $146.68 and $184.34.The ETF has a beta of 1.11 and standard deviation of 23.53% for the trailing three-year period, making it a medium risk choice in the space. With about 2260 holdings, it effectively diversifies company-specific risk.AlternativesFlexShares Morningstar U.S. Market Factor Tilt ETF is an excellent option for investors seeking to outperform the Style Box - All Cap Blend segment of the market. There are other ETFs in the space which investors could consider as well.IShares Core S&P Total U.S. Stock Market ETF (ITOT) tracks S&P Total Market Index and the Vanguard Total Stock Market ETF (VTI) tracks CRSP US Total Market Index. IShares Core S&P Total U.S. Stock Market ETF has $44.85 billion in assets, Vanguard Total Stock Market ETF has $285.31 billion. ITOT has an expense ratio of 0.03% and VTI charges 0.03%.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 - All 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. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>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 FlexShares Morningstar U.S. Market Factor Tilt ETF (TILT): 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 Vanguard Total Stock Market ETF (VTI): ETF Research Reports iShares Core S&P Total U.S. Stock Market ETF (ITOT): ETF Research Reports To read this article on Zacks.com click here.