Launched on 07/24/2000, the iShares Core S&P U.S. Value ETF (IUSV) is a smart beta exchange traded fund offering broad exposure to the Style Box - All Cap Value category of the market.

For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.

Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.

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.

This kind of index follows this same mindset, as it attempts to pick stocks that have better chances of risk-return performance; non-cap weighted strategies base selection on certain fundamental characteristics, or a mix 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.

IUSV is managed by Blackrock, and this fund has amassed over $25.22 billion, which makes it one of the largest ETFs in the Style Box - All Cap Value. IUSV seeks to match the performance of the S&P 900 Value Index before fees and expenses.

The S&P 900 Value Index measures the performance of the large and mid-capitalization value sector of the U.S. equity market.

Investors 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.

With one of the least expensive products in the space, this ETF has annual operating expenses of 0.04%.

The fund has a 12-month trailing dividend yield of 1.73%.

Most ETFs are very transparent products, and disclose their holdings on a daily basis. ETFs also offer diversified exposure, which minimizes single stock risk, though it's still important for investors to research a fund's holdings.

IUSV's heaviest allocation is in the Information Technology sector, which is about 17.5% of the portfolio. Its Financials and Industrials round out the top three.

Looking at individual holdings, Apple Inc (AAPL) accounts for about 6.49% of total assets, followed by Amazon Com Inc (AMZN) and Exxon Mobil Corp (XOM).