The Invesco Dynamic Software ETF (PSJ) was launched on 06/23/2005, and is a passively managed exchange traded fund designed to offer broad exposure to the Technology - Software segment of the equity market.An increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they are also excellent vehicles for long term investors.Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Technology - Software is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 4, placing it in top 25%.Index DetailsThe fund is sponsored by Invesco. It has amassed assets over $263.30 M, making it one of the average sized ETFs attempting to match the performance of the Technology - Software segment of the equity market. PSJ seeks to match the performance of the Dynamic Software Intellidex Index before fees and expenses.The index is comprised of stocks of software companies. The Index is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.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 0.63%, making it on par with most peer products in the space.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 in the Information Technology sector--about 88.60% of the portfolio. Telecom and Industrials round out the top three.Looking at individual holdings, Liberty Broadband Corp (LBRDA) accounts for about 5.70% of total assets, followed by Microsoft Corp (MSFT) and Citrix Systems Inc (CTXS).The top 10 holdings account for about 48.10% of total assets under management.Performance and RiskThe ETF has gained about 20.19% and is up roughly 20.59% so far this year and in the past one year (as of 12/10/2018), respectively. PSJ has traded between $63.50 and $88.71 during this last 52-week period.The ETF has a beta of 1.16 and standard deviation of 19.76% for the trailing three-year period, making it a high risk choice in the space. With about 30 holdings, it has more concentrated exposure than peers.AlternativesInvesco Dynamic Software 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, PSJ is an outstanding option for investors seeking exposure to the Technology ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.SPDR S&P Software & Services ETF (XSW) tracks S&P Software & Services Select Industry Index and the iShares North American Tech-Software ETF (IGV) tracks S&P North American Technology-Software Index. SPDR S&P Software & Services ETF has $124.42 M in assets, iShares North American Tech-Software ETF has $1.86 B. XSW has an expense ratio of 0.35% and IGV charges 0.47%.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-DYN SFTWR (PSJ): ETF Research Reports Liberty Broadband Corporation (LBRDA): Free Stock Analysis Report Microsoft Corporation (MSFT): Free Stock Analysis Report Citrix Systems, Inc. (CTXS): Free Stock Analysis Report ISHARS-NA TEC-S (IGV): ETF Research Reports SPDR-SP SOF&SER (XSW): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research