Designed to provide broad exposure to the Large Cap Value segment of the US equity market, the iShares Russell Top 200 Value ETF (IWX) is a passively managed exchange traded fund launched on 09/22/2009.The fund is sponsored by Blackrock. It has amassed assets over $1.44 billion, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.Why Large Cap ValueLarge cap companies usually have a market capitalization above $10 billion. Overall, they are usually a stable option, with less risk and more sure-fire cash flows than mid and small cap companies.Value stocks have lower than average price-to-earnings and price-to-book ratios. They also have lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.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 0.20%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 1.98%.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 Healthcare sector--about 25.30% of the portfolio. Financials and Consumer Staples round out the top three.Looking at individual holdings, Berkshire Hathaway Inc Class B (BRK.B) accounts for about 4.37% of total assets, followed by Jpmorgan Chase & Co (JPM) and Johnson & Johnson (JNJ).The top 10 holdings account for about 27.93% of total assets under management.Performance and RiskIWX seeks to match the performance of the Russell Top 200 Value Index before fees and expenses. The Russell Top 200 Value Index is a style factor weighted index that measures the performance of the largest capitalization value sector of the U.S. equity market.The ETF has lost about -9.49% so far this year and is down about -2.64% in the last one year (as of 06/27/2022). In the past 52-week period, it has traded between $59.87 and $71.56.The ETF has a beta of 0.90 and standard deviation of 23.01% for the trailing three-year period, making it a medium risk choice in the space. With about 156 holdings, it effectively diversifies company-specific risk.AlternativesIShares Russell Top 200 Value 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, IWX is a reasonable option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $52.17 billion in assets, Vanguard Value ETF has $94.85 billion. IWD has an expense ratio of 0.19% and VTV charges 0.04%.Bottom-LineWhile 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.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 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 iShares Russell Top 200 Value ETF (IWX): ETF Research Reports JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Johnson & Johnson (JNJ): Free Stock Analysis Report Berkshire Hathaway Inc. (BRK.B): Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research