A smart beta exchange traded fund, the Global X SuperDividend U.S. ETF (DIV) debuted on 03/11/2013, and offers broad exposure to the Total Market (U.S.) ETFs category of the market.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.Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.Fund Sponsor & IndexManaged by Global X Management, DIV has amassed assets over $418.98 M, making it one of the larger ETFs in the Total Market (U.S.) ETFs. Before fees and expenses, DIV seeks to match the performance of the INDXX SuperDividend U.S. Low Volatility Index.The INDXX SuperDividend US Low Volatility Index tracks the performance of 50 equally weighted common stocks, MLPs & REITs that rank among the highest dividend yielding equity securities in the US.Cost & Other ExpensesInvestors 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 DIV are 0.45%, which makes it on par with most peer products in the space.The fund has a 12-month trailing dividend yield of 6.04%.Sector Exposure and Top HoldingsEven though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.Taking into account individual holdings, Brinker International Inc accounts for about 2.62% of the fund's total assets, followed by Amc Entertainment Hlds-Cl and National Cinemedia Inc.DIV's top 10 holdings account for about 24.05% of its total assets under management.Performance and RiskThe ETF return is roughly 2.14% so far this year and it's up approximately 5.58% in the last one year (as of 09/03/2018). In the past 52-week period, it has traded between $23.53 and $25.83.The ETF has a beta of 0.54 and standard deviation of 10.43% for the trailing three-year period, making it a medium choice in the space. With about 50 holdings, it has more concentrated exposure than peers.AlternativesGlobal X SuperDividend U.S. ETF is a reasonable option for investors seeking to outperform the Total Market (U.S.) ETFs segment of the market. However, there are other ETFs in the space which investors could consider.WBI Power Factor High Dividend ETF (WBIY) tracks Solactive Power Factor High Dividend Index and the Global X SuperDividend ETF (SDIV) tracks Solactive Global SuperDividend Index. WBI Power Factor High Dividend ETF has $90.99 M in assets, Global X SuperDividend ETF has $963.59 M. WBIY has an expense ratio of 0.70% and SDIV charges 0.58%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Total Market (U.S.) ETFs.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 GLBL-X SPRDV US (DIV): ETF Research Reports GLBL-X SUPERDIV (SDIV): ETF Research Reports WBI-PWR FAC HD (WBIY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research