If you're interested in broad exposure to the Mid Cap Blend segment of the US equity market, look no further than the John Hancock Multifactor Mid Cap ETF (JHMM), a passively managed exchange traded fund launched on 09/28/2015.The fund is sponsored by John Hancock. It has amassed assets over $2.20 billion, making it one of the average sized ETFs attempting to match the Mid Cap Blend segment of the US equity market.Why Mid Cap BlendWith market capitalization between $2 billion and $10 billion, mid cap companies usually contain higher growth prospects than large cap companies, and are considered less risky than their small cap counterparts. Thus, companies that fall under this category provide a stable and growth-heavy investment.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 0.41%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.93%.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 to the Information Technology sector--about 16.40% of the portfolio. Industrials and Financials round out the top three.Looking at individual holdings, Fifth Third Bancorp (FITB) accounts for about 0.47% of total assets, followed by Parker Hannifin Corp (PH) and Nucor Corp (NUE).The top 10 holdings account for about 4.3% of total assets under management.Performance and RiskJHMM seeks to match the performance of the John Hancock Dimensional Mid Cap Index before fees and expenses. The John Hancock Dimensional Mid Cap Index comprises of a subset of securities in the U.S. Universe issued by companies whose market capitalizations are between the 200th and 951st largest U.S. company.The ETF has lost about -22.07% so far this year and is down about -14.65% in the last one year (as of 06/20/2022). In the past 52-week period, it has traded between $42.94 and $56.63.The ETF has a beta of 1.08 and standard deviation of 26.42% for the trailing three-year period, making it a medium risk choice in the space. With about 667 holdings, it effectively diversifies company-specific risk.AlternativesJohn Hancock Multifactor Mid Cap 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, JHMM is a reasonable option for those seeking exposure to the Style Box - Mid Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.The Vanguard MidCap ETF (VO) and the iShares Core S&P MidCap ETF (IJH) track a similar index. While Vanguard MidCap ETF has $45 billion in assets, iShares Core S&P MidCap ETF has $54.69 billion. VO has an expense ratio of 0.04% and IJH charges 0.05%.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 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 John Hancock Multifactor Mid Cap ETF (JHMM): ETF Research Reports Fifth Third Bancorp (FITB): Free Stock Analysis Report Nucor Corporation (NUE): Free Stock Analysis Report ParkerHannifin Corporation (PH): Free Stock Analysis Report iShares Core S&P MidCap ETF (IJH): ETF Research Reports Vanguard MidCap ETF (VO): ETF Research Reports To read this article on Zacks.com click here.