Launched on 09/09/2010, the Vanguard S&P MidCap 400 ETF (IVOO) is a passively managed exchange traded fund designed to provide a broad exposure to the Mid Cap Blend segment of the US equity market.The fund is sponsored by Vanguard. It has amassed assets over $1.46 billion, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.Why Mid Cap BlendCompared to large and small cap companies, mid cap businesses tend to have higher growth prospects and are less volatile, respectively, with market capitalization between $2 billion and $10 billion. Thus, companies that fall under this category provide a stable and growth-heavy investment.Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.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 0.10%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 1.48%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. 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 19.90% of the portfolio. Financials and Consumer Discretionary round out the top three.Looking at individual holdings, Targa Resources Corp. (TRGP) accounts for about 0.73% of total assets, followed by Carlisle Cos. Inc. (CSL) and Steel Dynamics Inc. (STLD).The top 10 holdings account for about 6.02% of total assets under management.Performance and RiskIVOO seeks to match the performance of the S&P MidCap 400 Index before fees and expenses. The S&P MidCap 400 Index measures the performance of the mid-cap segment of the U.S. equity universe. The Index is a capitalization-weighted index composed of 400 domestic common stocks.The ETF has lost about -10.75% so far this year and is down about -8.33% in the last one year (as of 11/29/2022). In the past 52-week period, it has traded between $148.60 and $193.12.The ETF has a beta of 1.12 and standard deviation of 29.75% for the trailing three-year period, making it a medium risk choice in the space. With about 404 holdings, it effectively diversifies company-specific risk.AlternativesVanguard S&P MidCap 400 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, IVOO is an outstanding option for investors seeking exposure to the Style Box - Mid Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.The Vanguard MidCap ETF (VO) and the iShares Core S&P MidCap ETF (IJH) track a similar index. While Vanguard MidCap ETF has $50.93 billion in assets, iShares Core S&P MidCap ETF has $65.32 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.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. 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 Vanguard S&P MidCap 400 ETF (IVOO): ETF Research Reports Steel Dynamics, Inc. (STLD): Free Stock Analysis Report Carlisle Companies Incorporated (CSL): Free Stock Analysis Report Targa Resources, Inc. (TRGP): Free Stock Analysis Report iShares Core S&P MidCap ETF (IJH): ETF Research Reports Vanguard MidCap ETF (VO): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research