If you're interested in broad exposure to the Energy - Broad segment of the equity market, look no further than the Invesco S&P 500 Equal Weight Energy ETF (RYE), a passively managed exchange traded fund launched on 11/01/2006.While 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.Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Energy - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 4, placing it in top 25%.Index DetailsThe fund is sponsored by Invesco. It has amassed assets over $220.30 million, making it one of the average sized ETFs attempting to match the performance of the Energy - Broad segment of the equity market. RYE seeks to match the performance of the S&P 500 Equal Weight Energy Index before fees and expenses.The S&P 500 Equal Weight Energy Index is an unmanaged equal weighted version of the S&P 500 Energy Index that consists of the common stocks of the following industries: oil and gas exploration, production, marketing, refining and/or transportation and energy equipment and services industries that comprise the Energy sector of the S&P 500 Index.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 0.40%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 1.95%.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 in the Energy sector--about 100% of the portfolio.Looking at individual holdings, Occidental Petroleum Corp (OXY) accounts for about 5.11% of total assets, followed by Diamondback Energy Inc (FANG) and Oneok Inc (OKE).The top 10 holdings account for about 47.60% of total assets under management.Performance and RiskSo far this year, RYE has gained about 61.88%, and it's up approximately 113.83% in the last one year (as of 10/11/2021). During this past 52-week period, the fund has traded between $20.65 and $49.73.The ETF has a beta of 2.01 and standard deviation of 46.71% for the trailing three-year period, making it a high risk choice in the space. With about 23 holdings, it has more concentrated exposure than peers.AlternativesInvesco S&P 500 Equal Weight Energy ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, RYE is a reasonable option for those seeking exposure to the Energy ETFs area of the market. Investors might also want to consider some other ETF options in the space.Vanguard Energy ETF (VDE) tracks MSCI US Investable Market Energy 25/50 Index and the Energy Select Sector SPDR ETF (XLE) tracks Energy Select Sector Index. Vanguard Energy ETF has $5.66 billion in assets, Energy Select Sector SPDR ETF has $27.34 billion. VDE has an expense ratio of 0.10% and XLE charges 0.12%.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. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>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 Invesco S&P 500 Equal Weight Energy ETF (RYE): ETF Research Reports Occidental Petroleum Corporation (OXY): Free Stock Analysis Report ONEOK, Inc. (OKE): Free Stock Analysis Report Energy Select Sector SPDR ETF (XLE): ETF Research Reports Diamondback Energy, Inc. (FANG): Free Stock Analysis Report Vanguard Energy ETF (VDE): ETF Research Reports To read this article on Zacks.com click here.