A smart beta exchange traded fund, the Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW) debuted on 09/12/2017, and offers broad exposure to the Style Box - Large Cap Blend category of the market.What Are Smart Beta ETFs?For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.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.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.Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.Fund Sponsor & IndexGSEW is managed by Goldman Sachs Funds, and this fund has amassed over $675.75 million, which makes it one of the larger ETFs in the Style Box - Large Cap Blend. GSEW seeks to match the performance of the Solactive US Large Cap Equal Weight Index before fees and expenses.The Solactive US Large Cap Equal Weight Index is an equal-weight version of the Solactive US Large Cap Index including equity securities of approximately 500 of the largest U.S. companies.Cost & Other ExpensesCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.Operating expenses on an annual basis are 0.09% for this ETF, which makes it one of the least expensive products in the space.The fund has a 12-month trailing dividend yield of 1.54%.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 Information Technology sector - about 16.70% of the portfolio. Healthcare and Industrials round out the top three.Taking into account individual holdings, Generac Holdings Inc (GNRC) accounts for about 0.24% of the fund's total assets, followed by Mongodb Inc (MDB) and Okta Inc (OKTA).The top 10 holdings account for about 2.3% of total assets under management.Performance and RiskThe ETF has lost about -10.09% so far this year and is down about -6.70% in the last one year (as of 08/16/2022). In the past 52-week period, it has traded between $53.91 and $72.67.The ETF has a beta of 1.05 and standard deviation of 25.25% for the trailing three-year period. With about 491 holdings, it effectively diversifies company-specific risk.AlternativesGoldman Sachs Equal Weight U.S. Large Cap Equity 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 $320.19 billion in assets, SPDR S&P 500 ETF has $393.20 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 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 Goldman Sachs Equal Weight U.S. Large Cap Equity ETF (GSEW): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports Generac Holdings Inc. (GNRC): Free Stock Analysis Report iShares Core S&P 500 ETF (IVV): ETF Research Reports Okta, Inc. (OKTA): Free Stock Analysis Report MongoDB, Inc. (MDB): Free Stock Analysis Report To read this article on Zacks.com click here.