Looking for broad exposure to the Energy - Broad segment of the equity market? You should consider the First Trust Energy AlphaDEX ETF (FXN), a passively managed exchange traded fund launched on 05/08/2007.While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.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. Energy - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 1, placing it in top 6%.Index DetailsThe fund is sponsored by First Trust Advisors. It has amassed assets over $1.12 billion, making it one of the larger ETFs attempting to match the performance of the Energy - Broad segment of the equity market. FXN seeks to match the performance of the StrataQuant Energy Index before fees and expenses.The StrataQuant Energy Index is a modified equal-dollar weighted index designed by the AMEX to objectively identify and select stocks from the Russell 1000 Index that may generate positive alpha relative to traditional passive style indices through the use of the AlphaDEX screening methodology.CostsInvestors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.Annual operating expenses for this ETF are 0.64%, making it on par with most peer products in the space.It has a 12-month trailing dividend yield of 0.72%.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 in the Energy sector--about 94.40% of the portfolio.Looking at individual holdings, Conocophillips (COP) accounts for about 5.17% of total assets, followed by Pioneer Natural Resources Company (PXD) and Diamondback Energy, Inc. (FANG).The top 10 holdings account for about 45.48% of total assets under management.Performance and RiskSo far this year, FXN has gained about 18.43%, and it's up approximately 34.29% in the last one year (as of 03/16/2022). During this past 52-week period, the fund has traded between $9.56 and $15.50.The ETF has a beta of 2.05 and standard deviation of 47.72% for the trailing three-year period, making it a high risk choice in the space. With about 37 holdings, it has more concentrated exposure than peers.AlternativesFirst Trust Energy AlphaDEX 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, FXN is a reasonable option for those seeking exposure to the Energy ETFs area of the market. Investors might also want to consider some other ETF options in the space.Vanguard Energy ETF (VDE) tracks MSCI US Investable Market Energy 25/50 Index and the Energy Select Sector SPDR ETF (XLE) tracks Energy Select Sector Index. Vanguard Energy ETF has $7.88 billion in assets, Energy Select Sector SPDR ETF has $35.84 billion. VDE has an expense ratio of 0.10% and XLE charges 0.10%.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 First Trust Energy AlphaDEX ETF (FXN): ETF Research Reports ConocoPhillips (COP): Free Stock Analysis Report Pioneer Natural Resources Company (PXD): Free Stock Analysis Report Energy Select Sector SPDR ETF (XLE): ETF Research Reports Diamondback Energy, Inc. (FANG): Free Stock Analysis Report Vanguard Energy ETF (VDE): ETF Research Reports To read this article on Zacks.com click here.