Launched on 12/02/2010, the Invesco KBW Property & Casualty Insurance ETF (KBWP) is a passively managed exchange traded fund designed to provide a broad exposure to the Financials - Insurance segment of the equity market.Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Financials - Insurance 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 $287.52 million, making it one of the average sized ETFs attempting to match the performance of the Financials - Insurance segment of the equity market. KBWP seeks to match the performance of the KBW Nasdaq Property & Casualty Index before fees and expenses.The KBW Nasdaq Property & Casualty Index is a modified market capitalization weighted index that reflects the performance of approximately 24 property and casualty insurance companies.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 0.35%, making it one of the cheaper products in the space.It has a 12-month trailing dividend yield of 2.89%.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 Financials sector--about 100% of the portfolio.Looking at individual holdings, Progressive Corp/the (PGR) accounts for about 9.23% of total assets, followed by Chubb Ltd (CB) and American International Group Inc (AIG).The top 10 holdings account for about 61.93% of total assets under management.Performance and RiskThe ETF has lost about -4.29% so far this year and is down about -0.75% in the last one year (as of 09/26/2022). In that past 52-week period, it has traded between $73.76 and $88.41.The ETF has a beta of 0.64 and standard deviation of 28.38% for the trailing three-year period, making it a medium risk choice in the space. With about 25 holdings, it has more concentrated exposure than peers.AlternativesInvesco KBW Property & Casualty Insurance 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, KBWP is an outstanding option for investors seeking exposure to the Financials ETFs segment of the market. There are other additional ETFs in the space that investors could consider as well.IShares U.S. Insurance ETF (IAK) tracks Dow Jones U.S. Select Insurance Index and the SPDR S&P Insurance ETF (KIE) tracks S&P Insurance Select Industry Index. IShares U.S. Insurance ETF has $325.82 million in assets, SPDR S&P Insurance ETF has $388.30 million. IAK has an expense ratio of 0.39% and KIE charges 0.35%.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 Invesco KBW Property & Casualty Insurance ETF (KBWP): ETF Research Reports American International Group, Inc. (AIG): Free Stock Analysis Report Chubb Limited (CB): Free Stock Analysis Report The Progressive Corporation (PGR): Free Stock Analysis Report iShares U.S. Insurance ETF (IAK): ETF Research Reports SPDR S&P Insurance ETF (KIE): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research