Designed to provide broad exposure to the Small Cap Blend segment of the US equity market, the IQ Chaikin U.S. Small Cap ETF (CSML) is a passively managed exchange traded fund launched on 05/16/2017.The fund is sponsored by New York Life Investments. It has amassed assets over $263.30 million, making it one of the average sized ETFs attempting to match the Small Cap Blend segment of the US equity market.Why Small Cap BlendThere's a lot of potential to investing in small cap companies, but with market capitalization below $2 billion, that high potential comes with even higher risk.Blend ETFs are aptly named, since they tend to hold a mix of growth and value stocks, as well as show characteristics of both kinds of equities.CostsExpense ratios are an important factor in the return of an ETF and in the long term, cheaper funds can significantly outperform their more expensive counterparts, other things remaining the same.Annual operating expenses for this ETF are 0.35%, putting it on par with most peer products in the space.It has a 12-month trailing dividend yield of 1.34%.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 to the Financials sector--about 22.70% of the portfolio. Industrials and Healthcare round out the top three.Looking at individual holdings, Array Technologies Inc (ARRY) accounts for about 0.39% of total assets, followed by H&r Block Inc (HRB) and Super Micro Computer Inc (SMCI).The top 10 holdings account for about 3.45% of total assets under management.Performance and RiskCSML seeks to match the performance of the NASDAQ Chaikin Power US Small Cap Index before fees and expenses. The NASDAQ Chaikin Power US Small Cap Index is a rules-based, quantitative index designed to enhance the NASDAQ US 1500 Index, by selecting stocks with the highest Chaikin Power Gauge rating.The ETF has lost about -10.91% so far this year and is down about -7.88% in the last one year (as of 12/07/2022). In the past 52-week period, it has traded between $28.77 and $37.49.The ETF has a beta of 1.22 and standard deviation of 32.06% for the trailing three-year period. With about 498 holdings, it effectively diversifies company-specific risk.AlternativesIQ Chaikin U.S. Small Cap 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, CSML is a good option for those seeking exposure to the Style Box - Small Cap Blend area of the market. Investors might also want to consider some other ETF options in the space.The iShares Russell 2000 ETF (IWM) and the iShares Core S&P SmallCap ETF (IJR) track a similar index. While iShares Russell 2000 ETF has $53.88 billion in assets, iShares Core S&P SmallCap ETF has $67.27 billion. IWM has an expense ratio of 0.19% and IJR charges 0.06%.Bottom-LineRetail 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.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 IQ Chaikin U.S. Small Cap ETF (CSML): ETF Research Reports H&R Block, Inc. (HRB): Free Stock Analysis Report Super Micro Computer, Inc. (SMCI): Free Stock Analysis Report Array Technologies, Inc. (ARRY): Free Stock Analysis Report iShares Russell 2000 ETF (IWM): ETF Research Reports iShares Core S&P SmallCap ETF (IJR): ETF Research ReportsTo read this article on Zacks.com click here.Zacks Investment Research