If you're interested in broad exposure to the Small Cap Value segment of the US equity market, look no further than the WisdomTree U.S. SmallCap Earnings Fund (EES), a passively managed exchange traded fund launched on 02/23/2007.The fund is sponsored by Wisdomtree. It has amassed assets over $758.20 M, making it one of the average sized ETFs attempting to match the Small Cap Value segment of the US equity market.Why Small Cap ValueSmall cap companies have market capitalization below $2 billion. They usually have higher potential than large and mid cap companies with stocks but higher risk.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. Value stocks have outperformed growth stocks in nearly all markets when you consider long-term performance, growth stocks are more likely to outpace value stocks in strong bull markets.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 0.38%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 1.53%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Consumer Discretionary sector--about 23.50% of the portfolio. Financials and Industrials round out the top three.Looking at individual holdings, American Axle & Manufacturing (AXL) accounts for about 1.02% of total assets, followed by Dana Inc (DAN) and Bed Bath & Beyond Inc (BBBY).The top 10 holdings account for about 8.48% of total assets under management.Performance and RiskEES seeks to match the performance of the WisdomTree U.S. SmallCap Earnings Index before fees and expenses. The WisdomTree U.S. SmallCap Earnings Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. Stock Market.The ETF has gained about 18.32% so far this year and is up roughly 6.47% in the last one year (as of 02/20/2019). In the past 52-week period, it has traded between $30.28 and $40.77.The ETF has a beta of 1.16 and standard deviation of 15.88% for the trailing three-year period, making it a medium risk choice in the space. With about 865 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree U.S. SmallCap Earnings Fund carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, EES is a sufficient option for those seeking exposure to the Style Box - Small Cap Value area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 2000 Value ETF (IWN) and the Vanguard Small-Cap Value ETF (VBR) track a similar index. While iShares Russell 2000 Value ETF has $9.51 B in assets, Vanguard Small-Cap Value ETF has $13.49 B. IWN has an expense ratio of 0.24% and VBR charges 0.07%.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 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 WisdomTree U.S. SmallCap Earnings Fund (EES): ETF Research Reports American Axle & Manufacturing Holdings, Inc. (AXL): Free Stock Analysis Report Dana Incorporated (DAN): Free Stock Analysis Report Vanguard Small-Cap Value ETF (VBR): ETF Research Reports iShares Russell 2000 Value ETF (IWN): ETF Research Reports Bed Bath & Beyond Inc. (BBBY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research