Designed to provide broad exposure to the Small Cap Blend segment of the US equity market, the iShares Russell 2000 ETF (IWM) is a passively managed exchange traded fund launched on 05/22/2000.The fund is sponsored by Blackrock. It has amassed assets over $74.89 billion, making it one of the largest ETFs attempting to match the Small Cap Blend segment of the US equity market.Why Small Cap BlendSitting at a market capitalization below $2 billion, small cap companies tend to be high-potential stocks compared to its large and mid cap counterparts, but come with higher risk.Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.CostsExpense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.Annual operating expenses for this ETF are 0.19%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.85%.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 to the Healthcare sector--about 18.90% of the portfolio. Financials and Industrials round out the top three.Looking at individual holdings, Amc Entertainment Holdings Inc Cla (AMC) accounts for about 0.61% of total assets, followed by Crocs Inc (CROX) and Asana Inc Class A (ASAN).The top 10 holdings account for about 3.32% of total assets under management.Performance and RiskIWM seeks to match the performance of the Russell 2000 Index before fees and expenses. The Russell 2000 Index measures the performance of the small capitalization sector of the U.S. equity market.The ETF has added roughly 24.02% so far this year and was up about 38.66% in the last one year (as of 11/16/2021). In the past 52-week period, it has traded between $175.96 and $242.56.The ETF has a beta of 1.19 and standard deviation of 28.29% for the trailing three-year period, making it a medium risk choice in the space. With about 2030 holdings, it effectively diversifies company-specific risk.AlternativesIShares Russell 2000 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, IWM is a sufficient option for those seeking exposure to the Style Box - Small Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.The Vanguard SmallCap ETF (VB) and the iShares Core S&P SmallCap ETF (IJR) track a similar index. While Vanguard SmallCap ETF has $51.37 billion in assets, iShares Core S&P SmallCap ETF has $76.43 billion. VB has an expense ratio of 0.05% and IJR charges 0.06%.Bottom-LineRetail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.To 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 iShares Russell 2000 ETF (IWM): ETF Research Reports Crocs, Inc. (CROX): Free Stock Analysis Report AMC Entertainment Holdings, Inc. (AMC): Free Stock Analysis Report iShares Core S&P SmallCap ETF (IJR): ETF Research Reports Vanguard SmallCap ETF (VB): ETF Research Reports Asana, Inc. (ASAN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research