Launched on 05/08/2007, the First Trust Consumer Staples AlphaDEX ETF (FXG) is a passively managed exchange traded fund designed to provide a broad exposure to the Consumer Staples - Broad segment of the equity market.An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Consumer Staples - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 10, placing it in bottom 38%.Index DetailsThe fund is sponsored by First Trust Advisors. It has amassed assets over $264.87 million, making it one of the average sized ETFs attempting to match the performance of the Consumer Staples - Broad segment of the equity market. FXG seeks to match the performance of the StrataQuant Consumer Staples Index before fees and expenses.The StrataQuant Consumer Staples Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.CostsInvestors 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.Annual operating expenses for this ETF are 0.63%, making it one of the most expensive products in the space.It has a 12-month trailing dividend yield of 1.39%.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 in the Consumer Staples sector--about 88.60% of the portfolio. Healthcare and Materials round out the top three.Looking at individual holdings, Archer-Daniels-Midland Company (ADM) accounts for about 4.35% of total assets, followed by Bunge Limited (BG) and Darling Ingredients Inc. (DAR).The top 10 holdings account for about 40.29% of total assets under management.Performance and RiskThe ETF has gained about 15.65% and it's up approximately 19.40% so far this year and in the past one year (as of 11/09/2021), respectively. FXG has traded between $50.04 and $60.68 during this last 52-week period.The ETF has a beta of 0.71 and standard deviation of 18.56% for the trailing three-year period, making it a medium risk choice in the space. With about 41 holdings, it has more concentrated exposure than peers.AlternativesFirst Trust Consumer Staples AlphaDEX 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, FXG is a good option for those seeking exposure to the Consumer Staples ETFs area of the market. Investors might also want to consider some other ETF options in the space.Vanguard Consumer Staples ETF (VDC) tracks MSCI US Investable Market Consumer Staples 25/50 Index and the Consumer Staples Select Sector SPDR ETF (XLP) tracks Consumer Staples Select Sector Index. Vanguard Consumer Staples ETF has $6.03 billion in assets, Consumer Staples Select Sector SPDR ETF has $11.95 billion. VDC has an expense ratio of 0.10% and XLP charges 0.12%.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 First Trust Consumer Staples AlphaDEX ETF (FXG): ETF Research Reports Archer Daniels Midland Company (ADM): Free Stock Analysis Report Bunge Limited (BG): Free Stock Analysis Report Darling Ingredients Inc. (DAR): Free Stock Analysis Report Consumer Staples Select Sector SPDR ETF (XLP): ETF Research Reports Vanguard Consumer Staples ETF (VDC): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research