Designed to provide broad exposure to the Small Cap Value segment of the US equity market, the iShares S&P SmallCap 600 Value ETF (IJS) is a passively managed exchange traded fund launched on 07/24/2000.The fund is sponsored by Blackrock. It has amassed assets over $8.94 billion, making it one of the largest ETFs attempting to match the Small Cap Value segment of the US equity market.Why Small Cap ValueWith more potential comes more risk, and small cap companies, with market capitalization below $2 billion, epitomizes this way of thinking.Carrying lower than average price-to-earnings and price-to-book ratios, value stocks also have lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.CostsWhen considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.Annual operating expenses for this ETF are 0.18%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 1.50%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Financials sector--about 17.90% of the portfolio. Industrials and Consumer Discretionary round out the top three.Looking at individual holdings, Macys Inc (M) accounts for about 1.51% of total assets, followed by Pdc Energy Inc (PDCE) and Signet Jewelers Ltd (SIG).The top 10 holdings account for about 8.08% of total assets under management.Performance and RiskIJS seeks to match the performance of the S&P SmallCap 600 Value Index before fees and expenses. The S&P SmallCap 600 Value Index measures the performance of the small capitalization value sector of the U.S. equity market.The ETF has lost about -0.26% so far this year and was up about 22.70% in the last one year (as of 01/10/2022). In the past 52-week period, it has traded between $86.39 and $110.76.The ETF has a beta of 1.25 and standard deviation of 30.42% for the trailing three-year period, making it a medium risk choice in the space. With about 536 holdings, it effectively diversifies company-specific risk.AlternativesIShares S&P SmallCap 600 Value ETF holds a Zacks ETF Rank of 2 (Buy), which is based on expected asset class return, expense ratio, and momentum, among other factors. Because of this, IJS is a great option for investors seeking exposure to the Style Box - Small Cap Value segment of the market. There are other additional ETFs in the space that investors could consider as well.The iShares Russell 2000 Value ETF (IWN) and the Vanguard SmallCap Value ETF (VBR) track a similar index. While iShares Russell 2000 Value ETF has $15.95 billion in assets, Vanguard SmallCap Value ETF has $26.77 billion. IWN has an expense ratio of 0.24% and VBR charges 0.07%.Bottom-LinePassively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are 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 S&P SmallCap 600 Value ETF (IJS): ETF Research Reports Macy's, Inc. (M): Free Stock Analysis Report Signet Jewelers Limited (SIG): Free Stock Analysis Report PDC Energy, Inc. (PDCE): Free Stock Analysis Report Vanguard SmallCap Value ETF (VBR): ETF Research Reports iShares Russell 2000 Value ETF (IWN): ETF Research Reports To read this article on Zacks.com click here.