The iShares Russell Top 200 ETF (IWL) was launched on 09/22/2009, and is a passively managed exchange traded fund designed to offer broad exposure to the Large Cap Blend segment of the US equity market.The fund is sponsored by Blackrock. It has amassed assets over 3.90 M, making it one of the average sized ETFs attempting to match the Large Cap Blend segment of the US equity market.Why Large Cap BlendLarge cap companies usually have a market capitalization above billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.Typically holding a combination of both growth and value stocks, blend ETFs also demonstrate qualities seen in value and growth investments.CostsCost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.Annual operating expenses for this ETF are 0.15%, making it one of the least expensive products in the space.It has a 12-month trailing dividend yield of 1.79%.Sector Exposure and Top HoldingsETFs offer a 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.This ETF has heaviest allocation to the Information Technology sector--about 24.50% of the portfolio. Healthcare and Financials round out the top three.Looking at individual holdings, Apple Inc (AAPL) accounts for about 5.69% of total assets, followed by Microsoft Corp (MSFT) and Amazon Com Inc (AMZN).The top 10 holdings account for about 27.8% of total assets under management.Performance and RiskIWL seeks to match the performance of the Russell Top 200 Index before fees and expenses. The Russell Top 200 Index is a float-adjusted, capitalization-weighted index that measures the performance of the largest capitalization sector of the U.S. equity market.The ETF return is roughly 26.89% so far this year and it's up approximately 21.48% in the last one year (as of 11/26/2019). In the past 52-week period, it has traded between .65 and .09.The ETF has a beta of 1 and standard deviation of 12.91% for the trailing three-year period, making it a medium risk choice in the space. With about 198 holdings, it effectively diversifies company-specific risk.AlternativesIShares Russell Top 200 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, IWL is a great option for investors seeking exposure to the Style Box - Large Cap Blend segment of the market. There are other additional ETFs in the space that investors could consider as well.The iShares Core S&P 500 ETF (IVV) and the SPDR S&P 500 ETF (SPY) track a similar index. While iShares Core S&P 500 ETF has 7 B in assets, SPDR S&P 500 ETF has 2.79 B. IVV has an expense ratio of 0.04% and SPY charges 0.09%.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 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 Top 200 ETF (IWL): ETF Research Reports Amazon.com, Inc. (AMZN): Free Stock Analysis Report Apple Inc. (AAPL): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report iShares Core S&P 500 ETF (IVV): ETF Research Reports SPDR S&P 500 ETF (SPY): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research