Designed to provide broad exposure to the Technology - Semiconductors segment of the equity market, the Invesco Dynamic Semiconductors ETF (PSI) is a passively managed exchange traded fund launched on 06/23/2005.Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.Sector ETFs also provide investors access to a broad group of companies in particular sectors that offer low risk and diversified exposure. Technology - Semiconductors is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 12, placing it in bottom 25%.Index DetailsThe fund is sponsored by Invesco. It has amassed assets over $288.49 million, making it one of the average sized ETFs attempting to match the performance of the Technology - Semiconductors segment of the equity market. PSI seeks to match the performance of the Dynamic Semiconductor Intellidex Index before fees and expenses.The index is comprised of stocks of semiconductor companies. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.CostsWhen considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.Annual operating expenses for this ETF are 0.58%, making it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.34%.Sector Exposure and Top HoldingsETFs offer a diversified exposure and thus minimize single stock risk but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.This ETF has heaviest allocation in the Information Technology sector--about 100% of the portfolio.Looking at individual holdings, Advanced Micro Devices Inc (AMD) accounts for about 6.84% of total assets, followed by Nvidia Corp (NVDA) and Qualcomm Inc (QCOM).The top 10 holdings account for about 48.02% of total assets under management.Performance and RiskYear-to-date, the Invesco Dynamic Semiconductors ETF has added roughly 24.58% so far, and is up about 41.92% over the last 12 months (as of 10/19/2020). PSI has traded between $46.49 and $85.42 in this past 52-week period.The ETF has a beta of 1.30 and standard deviation of 34.95% for the trailing three-year period, making it a high risk choice in the space. With about 31 holdings, it has more concentrated exposure than peers.AlternativesInvesco Dynamic Semiconductors ETF holds a Zacks ETF Rank of 1 (Strong Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, PSI is an outstanding option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.VanEck Vectors Semiconductor ETF (SMH) tracks MVIS US Listed Semiconductor 25 Index and the iShares PHLX Semiconductor ETF (SOXX) tracks PHLX SOX Semiconductor Sector Index. VanEck Vectors Semiconductor ETF has $2.92 billion in assets, iShares PHLX Semiconductor ETF has $3.78 billion. SMH has an expense ratio of 0.35% and SOXX charges 0.46%.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.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 Dynamic Semiconductors ETF (PSI): ETF Research Reports NVIDIA Corporation (NVDA): Free Stock Analysis Report Advanced Micro Devices, Inc. (AMD): Free Stock Analysis Report QUALCOMM Incorporated (QCOM): Free Stock Analysis Report iShares PHLX Semiconductor ETF (SOXX): ETF Research Reports VanEck Vectors Semiconductor ETF (SMH): ETF Research Reports To read this article on Zacks.com click here.