Launched on 07/10/2001, the iShares Semiconductor ETF (SOXX) is a smart beta exchange traded fund offering broad exposure to the Technology ETFs category of the market. Products that are based on market cap weighted indexes, which are strategies designed to reflect a specific market segment or the market as a whole, have traditionally dominated the ETF industry. Market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns, and are a good option for investors who believe in market efficiency. There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies. Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance. 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. SOXX is managed by Blackrock, and this fund has amassed over $36.25 billion, which makes it one of the largest ETFs in the Technology ETFs. SOXX seeks to match the performance of the PHLX SOX Semiconductor Sector Index before fees and expenses. The ICE Semiconductor Index measures the performance of U.S. traded securities of companies engaged in the semiconductor business. Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio. Annual operating expenses for this ETF are 0.34%, making it one of the least expensive products in the space. It's 12-month trailing dividend yield comes in at 0.31%. ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis. Representing 100% of the portfolio, the fund has heaviest allocation to the Information Technology sector. Looking at individual holdings, Broadcom Inc (AVGO) accounts for about 8.44% of total assets, followed by Nvidia Corp (NVDA) and Micron Technology Inc (MU). Its top 10 holdings account for approximately 58.76% of SOXX's total assets under management.