If you're interested in broad exposure to the Utilities - Broad segment of the equity market, look no further than the First Trust Utilities AlphaDEX ETF (FXU), a passively managed exchange traded fund launched on 05/08/2007.An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.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. Utilities - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 7, placing it in top 44%.Index DetailsThe fund is sponsored by First Trust Advisors. It has amassed assets over $345.10 million, making it one of the average sized ETFs attempting to match the performance of the Utilities - Broad segment of the equity market. FXU seeks to match the performance of the StrataQuant Utilities Index before fees and expenses.The StrataQuant Utilities Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.CostsInvestors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.Annual operating expenses for this ETF are 0.64%, making it the most expensive product in the space.It has a 12-month trailing dividend yield of 2.36%.Sector Exposure and Top HoldingsIt is important to delve into an ETF's holdings before investing despite the many upsides to these kinds of funds like diversified exposure, which minimizes single stock risk. And, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation in the Utilities sector--about 92.60% of the portfolio.Looking at individual holdings, American Electric Power Company, Inc. (AEP) accounts for about 4.45% of total assets, followed by Exelon Corporation (EXC) and Pinnacle West Capital Corporation (PNW).The top 10 holdings account for about 39.92% of total assets under management.Performance and RiskThe ETF has lost about -6.73% and is down about -0.32% so far this year and in the past one year (as of 06/20/2022), respectively. FXU has traded between $29.53 and $35.25 during this last 52-week period.The ETF has a beta of 0.53 and standard deviation of 24.37% for the trailing three-year period, making it a medium risk choice in the space. With about 41 holdings, it has more concentrated exposure than peers.AlternativesFirst Trust Utilities AlphaDEX 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, FXU is a good option for those seeking exposure to the Utilities/Infrastructure ETFs area of the market. Investors might also want to consider some other ETF options in the space.Vanguard Utilities ETF (VPU) tracks MSCI US Investable Market Utilities 25/50 Index and the Utilities Select Sector SPDR ETF (XLU) tracks Utilities Select Sector Index. Vanguard Utilities ETF has $5.25 billion in assets, Utilities Select Sector SPDR ETF has $14.71 billion. VPU has an expense ratio of 0.10% and XLU charges 0.10%.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 First Trust Utilities AlphaDEX ETF (FXU): ETF Research Reports Exelon Corporation (EXC): Free Stock Analysis Report American Electric Power Company, Inc. (AEP): Free Stock Analysis Report Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report Utilities Select Sector SPDR ETF (XLU): ETF Research Reports Vanguard Utilities ETF (VPU): ETF Research Reports To read this article on Zacks.com click here.