Designed to provide broad exposure to the Technology ETFs category of the market, the SPDR NYSE Technology ETF (XNTK) is a smart beta exchange traded fund launched on 09/25/2000.What Are Smart Beta ETFs?Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.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.If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.These indexes attempt to select stocks that have better chances of risk-return performance, based on certain fundamental characteristics or a combination of such characteristics.While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.Fund Sponsor & IndexThe fund is managed by State Street Global Advisors. XNTK has been able to amass assets over $403.24 million, making it one of the average sized ETFs in the Technology ETFs. XNTK seeks to match the performance of the NYSE Technology Index before fees and expenses.The NYSE Technology Index is composed of 35 leading U.S.-listed technology-related companies.Cost & Other ExpensesFor ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.Operating expenses on an annual basis are 0.35% for XNTK, making it one of the least expensive products in the space.XNTK's 12-month trailing dividend yield is 0.71%.Sector Exposure and Top HoldingsWhile ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.XNTK's heaviest allocation is in the Information Technology sector, which is about 70.60% of the portfolio. Its Consumer Discretionary and Telecom round out the top three.When you look at individual holdings, International Business Machines Corporation (IBM) accounts for about 4.65% of the fund's total assets, followed by Apple Inc. (AAPL) and Booking Holdings Inc. (BKNG).Its top 10 holdings account for approximately 37.1% of XNTK's total assets under management.Performance and RiskThe ETF has lost about -35.84% and is down about -36.02% so far this year and in the past one year (as of 12/01/2022), respectively. XNTK has traded between $90.06 and $169.09 during this last 52-week period.The ETF has a beta of 1.17 and standard deviation of 34.47% for the trailing three-year period. With about 36 holdings, it has more concentrated exposure than peers.AlternativesSPDR NYSE Technology ETF is an excellent option for investors seeking to outperform the Technology ETFs segment of the market. There are other ETFs in the space which investors could consider as well.Technology Select Sector SPDR ETF (XLK) tracks Technology Select Sector Index and the Vanguard Information Technology ETF (VGT) tracks MSCI US Investable Market Information Technology 25/50 Index. Technology Select Sector SPDR ETF has $41.67 billion in assets, Vanguard Information Technology ETF has $42.23 billion. XLK has an expense ratio of 0.10% and VGT charges 0.10%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Technology ETFs.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. Zacks Names "Single Best Pick to Double" From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.Free: See Our Top Stock and 4 Runners Up >>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 SPDR NYSE Technology ETF (XNTK): ETF Research Reports Apple Inc. (AAPL): Free Stock Analysis Report International Business Machines Corporation (IBM): Free Stock Analysis Report Technology Select Sector SPDR ETF (XLK): ETF Research Reports Vanguard Information Technology ETF (VGT): ETF Research Reports Booking Holdings Inc. (BKNG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research