Launched on 12/02/2015, the SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is a smart beta exchange traded fund offering broad exposure to the Style Box - Large Cap Blend category of the market.What Are Smart Beta ETFs?The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.Fund Sponsor & IndexONEV is managed by State Street Global Advisors, and this fund has amassed over $566.77 million, which makes it one of the larger ETFs in the Style Box - Large Cap Blend. This particular fund seeks to match the performance of the Russell 1000 Low Volatility Focused Factor Index before fees and expenses.The Russell 1000 Low Volatility Focused Factor Index reflects the performance of a segment of large-capitalization U.S. equity securities demonstrating a combination of core factors high value, high quality, and low size characteristics, with a focus factor comprising low volatility characteristics.Cost & Other ExpensesInvestors 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.With on par with most peer products in the space, this ETF has annual operating expenses of 0.20%.The fund has a 12-month trailing dividend yield of 1.67%.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 in the Industrials sector - about 18.40% of the portfolio. Financials and Information Technology round out the top three.Taking into account individual holdings, Hp Inc. (HPQ) accounts for about 1.12% of the fund's total assets, followed by Willis Towers Watson Public Limited Company (WTW) and Archer-Daniels-Midland Company (ADM).ONEV's top 10 holdings account for about 7.68% of its total assets under management.Performance and RiskThe ETF has lost about -6.17% so far this year and is down about -3.31% in the last one year (as of 12/08/2022). In the past 52-week period, it has traded between $91.93 and $114.25.ONEV has a beta of 0.97 and standard deviation of 24.99% for the trailing three-year period. With about 475 holdings, it effectively diversifies company-specific risk.AlternativesSPDR Russell 1000 Low Volatility Focus ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Blend segment of the market. However, there are other ETFs in the space which investors could consider.IShares Core S&P 500 ETF (IVV) tracks S&P 500 Index and the SPDR S&P 500 ETF (SPY) tracks S&P 500 Index. IShares Core S&P 500 ETF has $301.86 billion in assets, SPDR S&P 500 ETF has $366.38 billion. IVV has an expense ratio of 0.03% and SPY charges 0.09%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Blend.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 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 SPDR Russell 1000 Low Volatility Focus ETF (ONEV): ETF Research Reports HP Inc. (HPQ): Free Stock Analysis Report Archer Daniels Midland Company (ADM): Free Stock Analysis Report SPDR S&P 500 ETF (SPY): ETF Research Reports Willis Towers Watson Public Limited Company (WTW): Free Stock Analysis Report iShares Core S&P 500 ETF (IVV): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research