Launched on 11/08/2005, the SPDR S&P 600 Small Cap ETF (SLY) 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 State Street Global Advisors. It has amassed assets over $1.71 billion, making it one of the larger ETFs attempting to match the Small Cap Blend segment of the US equity market.Why Small Cap BlendSmall cap companies have market capitalization below $2 billion. They usually have higher potential than large and mid cap companies with stocks but higher risk.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 0.15%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 1.52%.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 to the Financials sector--about 18.70% of the portfolio. Industrials and Information Technology round out the top three.Looking at individual holdings, Macy's Inc (M) accounts for about 0.82% of total assets, followed by Omnicell Inc. (OMCL) and Chart Industries Inc. (GTLS).The top 10 holdings account for about 5.89% of total assets under management.Performance and RiskSLY seeks to match the performance of the S&P SmallCap 600 Index before fees and expenses. The S&P SmallCap 600 Index measures the performance of the small-capitalization sector in the US equity market.The ETF has lost about -9.35% so far this year and is up roughly 6.78% in the last one year (as of 01/24/2022). In the past 52-week period, it has traded between $84.47 and $104.37.The ETF has a beta of 1.19 and standard deviation of 29.34% for the trailing three-year period, making it a medium risk choice in the space. With about 605 holdings, it effectively diversifies company-specific risk.AlternativesSPDR S&P 600 Small Cap 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, SLY is an excellent option for investors seeking exposure to the Style Box - Small Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.The iShares Russell 2000 ETF (IWM) and the iShares Core S&P SmallCap ETF (IJR) track a similar index. While iShares Russell 2000 ETF has $59.52 billion in assets, iShares Core S&P SmallCap ETF has $69.71 billion. IWM has an expense ratio of 0.19% and IJR charges 0.06%.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. 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 SPDR S&P 600 Small Cap ETF (SLY): ETF Research Reports Macy's, Inc. (M): Free Stock Analysis Report Omnicell, Inc. (OMCL): Free Stock Analysis Report Chart Industries, Inc. (GTLS): Free Stock Analysis Report iShares Russell 2000 ETF (IWM): ETF Research Reports iShares Core S&P SmallCap ETF (IJR): ETF Research Reports To read this article on Zacks.com click here.