The iShares Russell 1000 Value ETF (IWD) was launched on 05/22/2000, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Value segment of the US equity market.The fund is sponsored by Blackrock. It has amassed assets over $57.31 billion, making it one of the largest ETFs attempting to match the Large Cap Value segment of the US equity market.Why Large Cap ValueLarge cap companies usually have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.While 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.CostsCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.Annual operating expenses for this ETF are 0.19%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 1.57%.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 21.20% of the portfolio. Healthcare and Industrials round out the top three.Looking at individual holdings, Berkshire Hathaway Inc Class B (BRK.B) accounts for about 2.58% of total assets, followed by Jpmorgan Chase & Co (JPM) and Johnson & Johnson (JNJ).The top 10 holdings account for about 17.28% of total assets under management.Performance and RiskIWD seeks to match the performance of the Russell 1000 Value Index before fees and expenses. The Russell 1000 Value Index measures the performance of the large-capitalization value sector of the U.S. equity market.The ETF return is roughly 24.54% so far this year and was up about 39.20% in the last one year (as of 11/05/2021). In the past 52-week period, it has traded between $123.03 and $166.68.The ETF has a beta of 1.01 and standard deviation of 23.51% for the trailing three-year period, making it a medium risk choice in the space. With about 846 holdings, it effectively diversifies company-specific risk.AlternativesIShares Russell 1000 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, IWD is an excellent option for investors seeking exposure to the Style Box - Large Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.The Vanguard High Dividend Yield ETF (VYM) and the Vanguard Value ETF (VTV) track a similar index. While Vanguard High Dividend Yield ETF has $39.96 billion in assets, Vanguard Value ETF has $88.03 billion. VYM has an expense ratio of 0.06% and VTV charges 0.04%.Bottom-LineRetail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds 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. Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 1000 Value ETF (IWD): ETF Research Reports JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Johnson & Johnson (JNJ): Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B): Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports Vanguard High Dividend Yield ETF (VYM): ETF Research Reports To read this article on Zacks.com click here.