The PowerShares DWA Industrials Momentum Portfolio (PRN) made its debut on 10/12/2006, and is a smart beta exchange traded fund that provides broad exposure to the Industrials ETFs category of the U.S. equity 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.This area offers many different investment choices, such as simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies; however, not all of these strategies can deliver superior results.Fund Sponsor & IndexThe fund is managed by Invesco Powershares, and has been able to amass over $114.83 M, which makes it one of the average sized ETFs in the Industrials ETFs. This particular fund seeks to match the performance of the DWA Industrials Technical Leaders Index before fees and expenses.The DWA Industrials Technical Leaders Index identifies companies that are showing relative strength and are composed of at least 30 common stocks from a universe of approximately 3,000 common stocks traded on US exchanges.Cost & Other ExpensesWhen considering an ETF's total return, expense ratios are an important factor. And, cheaper funds can significantly outperform their more expensive cousins in the long term if all other factors remain equal.Annual operating expenses for this ETF are 0.60%, making it on par with most peer products in the space.PRN's 12-month trailing dividend yield is 0.60%.Sector Exposure and Top HoldingsMost ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.Representing 72.10% of the portfolio, the fund has heaviest allocation to the Industrials sector; Information Technology and Materials round out the top three.Looking at individual holdings, Jb Hunt Transport Services Inc (JBHT) accounts for about 4.87% of total assets, followed by Ametek Inc (AME) and Sherwin-Williams Co/the (SHW).Its top 10 holdings account for approximately 38.53% of PRN's total assets under management.Performance and RiskThe ETF has lost about -0.85% so far this year and is up roughly 14.48% in the last one year (as of 05/30/2018). In the past 52-week period, it has traded between $53.19 and $64.80.The ETF has a beta of 1.23 and standard deviation of 15.27% for the trailing three-year period, making it a medium choice in the space. With about 42 holdings, it has more concentrated exposure than peers.AlternativesPowerShares DWA Industrials Momentum Portfolio is an excellent option for investors seeking to outperform the Industrials ETFs segment of the market. There are other ETFs in the space which investors could consider as well.Vanguard Industrials ETF (VIS) tracks MSCI US Investable Market Industrials 25/50 Index and the Industrial Select Sector SPDR Fund (XLI) tracks Industrial Select Sector Index. Vanguard Industrials ETF has $3.76 B in assets, Industrial Select Sector SPDR Fund has $12.90 B. VIS has an expense ratio of 0.10% and XLI charges 0.13%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Industrials 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 PWRSH-DW IND MO (PRN): ETF Research Reports J.B. Hunt Transport Services, Inc. (JBHT): Free Stock Analysis Report VIPERS-INDUS (VIS): ETF Research Reports SPDR-INDU SELS (XLI): ETF Research Reports The Sherwin-Williams Company (SHW): Free Stock Analysis Report AMETEK, Inc. (AME): Free Stock Analysis Report To read this article on Zacks.com click here.