Designed to provide broad exposure to the Large Cap Value segment of the US equity market, the SPDR Portfolio S&P 500 Value ETF (SPYV - Free Report) is a passively managed exchange traded fund launched on 09/25/2000.The fund is sponsored by State Street Global Advisors. It has amassed assets over $14.98 billion, making it one of the larger ETFs attempting to match the Large Cap Value segment of the US equity market.Why Large Cap ValueCompanies that find themselves in the large cap category typically have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.Value stocks are known for their lower than average price-to-earnings and price-to-book ratios, but investors should also note their lower than average sales and earnings growth rates. And, most ETFs are very transparent products that disclose their holdings on a daily basis.This ETF has heaviest allocation to the Healthcare sector--about 17.60% of the portfolio. Financials and Industrials round out the top three.Looking at individual holdings, Berkshire Hathaway Inc. While iShares Russell 1000 Value ETF has $53.90 billion in assets, Vanguard Value ETF has $97.80 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.Bottom-LineAn increasingly popular option among retail and institutional investors, passively managed ETFs offer low costs, transparency, flexibility, and tax efficiency; they 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.