Making its debut on 09/06/2019, smart beta exchange traded fund WisdomTree Cloud Computing ETF (WCLD) provides investors broad exposure to the Technology ETFs category of the market.What Are Smart Beta ETFs?Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry.Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.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.While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.Fund Sponsor & IndexWCLD is managed by Wisdomtree, and this fund has amassed over $685.13 million, which makes it one of the larger ETFs in the Technology ETFs. Before fees and expenses, this particular fund seeks to match the performance of the BVP NASDAQ EMERGING CLOUD INDEX .The BVP Nasdaq Emerging Cloud Index is an equally weighted Index, designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers.Cost & Other ExpensesWhen considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.Annual operating expenses for WCLD are 0.45%, which makes it one of the cheaper products in the space.It's 12-month trailing dividend yield comes in at 0%.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.For WCLD, it has heaviest allocation in the Information Technology sector --about 91.40% of the portfolio.Taking into account individual holdings, Tenable Holdings Inc (TENB) accounts for about 1.64% of the fund's total assets, followed by Sprout Social Inc - Class A (SPT) and Agora Inc-Adr (API).WCLD's top 10 holdings account for about 15.54% of its total assets under management.Performance and RiskThe ETF has lost about -40.64% so far this year and is down about -45.98% in the last one year (as of 07/06/2022). In the past 52-week period, it has traded between $25.93 and $65.33.The fund has a beta of 1.24 and standard deviation of 41.25% for the trailing three-year period. With about 76 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree Cloud Computing ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.Global X Cloud Computing ETF (CLOU) tracks INDXX GLOBAL CLOUD COMPUTING INDEX and the First Trust Cloud Computing ETF (SKYY) tracks ISE Cloud Computing Index. Global X Cloud Computing ETF has $688.23 million in assets, First Trust Cloud Computing ETF has $3.64 billion. CLOU has an expense ratio of 0.68% and SKYY charges 0.60%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.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 WisdomTree Cloud Computing ETF (WCLD): ETF Research Reports Agora, Inc. Sponsored ADR (API): Free Stock Analysis Report First Trust Cloud Computing ETF (SKYY): ETF Research Reports Tenable Holdings, Inc. (TENB): Free Stock Analysis Report Global X Cloud Computing ETF (CLOU): ETF Research Reports Sprout Social, Inc. (SPT): Free Stock Analysis Report To read this article on Zacks.com click here.