Launched on 04/07/2010, the Invesco S&P SmallCap Health Care ETF (PSCH) is a passively managed exchange traded fund designed to provide a broad exposure to the Healthcare - Broad 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.Sector ETFs are also funds of convenience, offering many ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Healthcare - Broad is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 1, placing it in top 6%.Index DetailsThe fund is sponsored by Invesco. It has amassed assets over $327.37 M, making it one of the average sized ETFs attempting to match the performance of the Healthcare - Broad segment of the equity market. PSCH seeks to match the performance of the S&P SmallCap 600 Capped Health Care Index before fees and expenses.This Index is comprised of common stocks of U.S. healthcare companies.These are companies that are principally engaged in the business of providing healthcare-related products & services, including biotechnology, pharmaceuticals, medical technology and supplies & facilities and this Index is a subset of the S&P SmallCap 600 Index.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 0.29%, making it one of the least expensive products in the space.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 Healthcare sector--about 100% of the portfolio.Looking at individual holdings, Amn Healthcare Services Inc (AMN) accounts for about 5.24% of total assets, followed by Lhc Group Inc (LHCG) and Neogen Corp (NEOG).The top 10 holdings account for about 39.59% of total assets under management.Performance and RiskThe ETF has lost about -30.59% and is down about -23.66% so far this year and in the past one year (as of 03/23/2020), respectively. PSCH has traded between $88.57 and $138.15 during this last 52-week period.The ETF has a beta of 1.21 and standard deviation of 23.13% for the trailing three-year period, making it a high risk choice in the space. With about 73 holdings, it effectively diversifies company-specific risk.AlternativesInvesco S&P SmallCap Health Care 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, PSCH is a sufficient option for those seeking exposure to the Health Care ETFs area of the market. Investors might also want to consider some other ETF options in the space.Vanguard Health Care ETF (VHT) tracks MSCI US Investable Market Health Care 25/50 Index and the Health Care Select Sector SPDR ETF (XLV) tracks Health Care Select Sector Index. Vanguard Health Care ETF has $7.72 B in assets, Health Care Select Sector SPDR ETF has $17.09 B. VHT has an expense ratio of 0.10% and XLV charges 0.13%.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 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 S&P SmallCap Health Care ETF (PSCH): ETF Research Reports LHC Group, Inc. (LHCG): Free Stock Analysis Report Neogen Corporation (NEOG): Free Stock Analysis Report AMN Healthcare Services Inc (AMN): Free Stock Analysis Report Health Care Select Sector SPDR ETF (XLV): ETF Research Reports Vanguard Health Care ETF (VHT): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research