Designed to provide broad exposure to the Style Box - Large Cap Value category of the market, the First Trust Rising Dividend Achievers ETF (RDVY) is a smart beta exchange traded fund launched on 01/07/2014.What Are Smart Beta ETFs?Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option 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.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.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 & IndexThe fund is sponsored by First Trust Advisors. It has amassed assets over $8.49 billion, making it one of the larger ETFs in the Style Box - Large Cap Value. RDVY seeks to match the performance of the NASDAQ US Rising Dividend Achievers Index before fees and expenses.The NASDAQ US Rising Dividend Achievers Index is designed to provide access to a diversified portfolio of companies with a history of paying dividends.Cost & Other ExpensesFor ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.Annual operating expenses for RDVY are 0.50%, which makes it on par with most peer products in the space.It's 12-month trailing dividend yield comes in at 1.03%.Sector Exposure and Top HoldingsETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.RDVY's heaviest allocation is in the Information Technology sector, which is about 38.10% of the portfolio. Its Financials and Consumer Discretionary round out the top three.When you look at individual holdings, Jefferies Financial Group Inc. (JEF) accounts for about 2.22% of the fund's total assets, followed by Bank Of America Corporation (BAC) and The Bank Of New York Mellon Corporation (BK).RDVY's top 10 holdings account for about 21.43% of its total assets under management.Performance and RiskSo far this year, RDVY return is roughly 0.48%, and is up about 27.59% in the last one year (as of 01/17/2022). During this past 52-week period, the fund has traded between $39.09 and $52.79.The ETF has a beta of 1.18 and standard deviation of 27.30% for the trailing three-year period, making it a medium risk choice in the space. With about 51 holdings, it effectively diversifies company-specific risk.AlternativesFirst Trust Rising Dividend Achievers ETF is an excellent option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $59.53 billion in assets, Vanguard Value ETF has $93.92 billion. IWD has an expense ratio of 0.19% and VTV charges 0.04%.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 Value.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. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>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 Rising Dividend Achievers ETF (RDVY): ETF Research Reports Bank of America Corporation (BAC): Free Stock Analysis Report The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report Jefferies Financial Group Inc. (JEF): Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research