Making its debut on 03/11/2013, smart beta exchange traded fund Global X SuperDividend U.S. ETF (DIV - Free Report) provides investors broad exposure to the Style Box - All Cap Value category of the market.What Are Smart Beta ETFs?The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.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.Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.Fund Sponsor & IndexThe fund is sponsored by Global X Management. It has amassed assets over $683.23 million, making it one of the larger ETFs in the Style Box - All Cap Value. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.DIV's heaviest allocation is in the Energy sector, which is about 17.90% of the portfolio. WBI Power Factor High Dividend ETF has $76.44 million in assets, Global X SuperDividend ETF has $735.69 million. WBIY has an expense ratio of 0.70% and SDIV charges 0.58%.Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - All Cap Value.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.