The WisdomTree U.S. SmallCap Dividend ETF (DES) made its debut on 06/16/2006, and is a smart beta exchange traded fund that provides broad exposure to the Style Box - Small Cap Value category of the market.What Are Smart Beta ETFs?The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other 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 Wisdomtree, and has been able to amass over $1.80 billion, which makes it one of the larger ETFs in the Style Box - Small Cap Value. This particular fund seeks to match the performance of the WisdomTree U.S. SmallCap Dividend Index before fees and expenses.The WisdomTree U.S. SmallCap Dividend Index is a fundamentally weighted index measuring the performance of the small-capitalization segment of the US dividend-paying market.Cost & Other ExpensesExpense ratios are an important factor in the return of an ETF and in the long-term, cheaper funds can significantly outperform their more expensive cousins, other things remaining the same.Operating expenses on an annual basis are 0.38% for DES, making it on par with most peer products in the space.The fund has a 12-month trailing dividend yield of 2.46%.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.This ETF has heaviest allocation in the Financials sector - about 27.40% of the portfolio. Industrials and Consumer Discretionary round out the top three.When you look at individual holdings, Vector Group Ltd (VGR) accounts for about 1.66% of the fund's total assets, followed by B&g Foods Inc (BGS) and Compass Minerals International (CMP).Its top 10 holdings account for approximately 12.06% of DES's total assets under management.Performance and RiskThe ETF has lost about -6.52% and is up about 14.32% so far this year and in the past one year (as of 01/28/2022), respectively. DES has traded between $27.09 and $33.79 during this last 52-week period.The ETF has a beta of 1.17 and standard deviation of 29.36% for the trailing three-year period, making it a medium risk choice in the space. With about 569 holdings, it effectively diversifies company-specific risk.AlternativesWisdomTree U.S. SmallCap Dividend ETF is an excellent option for investors seeking to outperform the Style Box - Small Cap Value segment of the market. There are other ETFs in the space which investors could consider as well.IShares Russell 2000 Value ETF (IWN) tracks Russell 2000 Value Index and the Vanguard SmallCap Value ETF (VBR) tracks CRSP U.S. Small Cap Value Index. IShares Russell 2000 Value ETF has $14.52 billion in assets, Vanguard SmallCap Value ETF has $24.87 billion. IWN has an expense ratio of 0.24% and VBR charges 0.07%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Small Cap Value.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 key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>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 WisdomTree U.S. SmallCap Dividend ETF (DES): ETF Research Reports B&G Foods, Inc. (BGS): Free Stock Analysis Report Compass Minerals International, Inc. (CMP): Free Stock Analysis Report Vector Group Ltd. (VGR): Free Stock Analysis Report Vanguard SmallCap Value ETF (VBR): ETF Research Reports iShares Russell 2000 Value ETF (IWN): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research