REX files Alpha Sports ETFs: one fund per MLB team, unlevered and 2x
REX ETF Trust on September 21, 2026 filed four 485APOS papers for Alpha Sports BaseballShares and HockeyShares covering 30 MLB teams and NHL clubs, unlevered and 2x; all remain Subject to Completion.
REX ETF Trust on Monday asked the SEC to register a separate exchange-traded fund for each of 30 Major League Baseball clubs, and HockeyShares series for National Hockey League teams, in both unlevered and daily 2x versions. The planned funds would be linked to CME futures on FutureSports Performance Indexes, rules-based benchmarks that convert official team statistics into a single live number as the game is played. Greg King, chief executive of Alpha Sports Holdings, a new REX subsidiary, said in the company's release that "there has never been a liquid, transparent investment product tied directly to what happens in live games."
Those registrations are four Form 485APOS post-effective amendments, a form that does not go effective on its own. They register unlevered and 2x BaseballShares for the 30 MLB clubs and unlevered and 2x HockeyShares for NHL teams, including 32 leveraged hockey series. All four are marked Subject to Completion. The prospectuses say the shares may not be sold until the registration statement is effective. Ticker symbols and the listing exchange are blank, and the SEC index on the filings did not list expense ratios.
Four sponsors have filed sports-team funds since August
Since Friday, August 14, three other sponsors have put sports-team funds in front of the SEC. Two of them, like REX, want a listed fund for each club tied to CME FutureSports futures. Amplify filed a different product last week: Amplify files a sports-ownership ETF with private holdings capped at 15%.
REX's release said the timing follows CME Group's announcements that it plans to list futures on the FutureSports NHL and MLB indexes, pending regulatory review.
What a season in one of these funds would look like
In the company's account, each MLB team index moves on 70 factors, including runs scored, stolen bases and strikeouts. CME Group and FutureSports set every sports index at a base of 7,500 points at the start of a season and rebase it there in the offseason, regardless of how the prior season ended. NHL team indexes reset on the calculation day 32 calendar days after the last game of the Stanley Cup Final. A position held through that reset does not keep last season's point total: CME says performance from a prior season does not roll over, and the next season's accumulation starts at 7,500.
The index only updates when a team is in action. A club that has been eliminated from postseason contention still moves the number as long as it plays; the gauge is official game statistics, not standings. Once that club's season is over, its index stops updating until the league-wide rebase. CME lists weekly, monthly and June contracts on the hockey indexes and has said there are no expirations in July or August, when no games are played and the index remains at 7,500. Those futures stay eligible to trade in the offseason.
The 2x HockeyShares prospectus is more specific about the levered sleeve: each leveraged fund seeks 200% of the daily performance of its applicable underlying ETF and may use swaps, shares of that ETF, call options and exchange-traded options.
The live-media and sports stock fund GOLS, listed by Gabelli at the end of 2025, holds companies in live media and sports. As of Monday it had $33.8 million in assets. Its largest positions are Madison Square Garden Sports and Atlanta Braves Holdings, equity in owners and related firms. ETF.com, writing after the Volatility Shares filing in August, called those NHL-team funds "a set of products unlike anything currently trading."
CME Group has said it plans to list futures on FutureSports NHL indexes on Monday, September 28, pending regulatory review, starting with 32 NHL teams. If those contracts open, the Alpha Sports funds would have an underlying to hold. They would still need the SEC to declare the registration effective, and they would still be one of several team-performance filings waiting on a ticker. Monday's paper cannot settle which of them lists first.
Frequently asked
What would these funds actually hold?
CME futures on FutureSports Performance Indexes, rules-based benchmarks that turn official team statistics into a single live number as the game is played.
Can I buy one now?
No: the filings are post-effective amendments marked Subject to Completion, with no tickers or listing exchange, and the shares cannot be sold until the SEC declares the registration effective.
What happens to a position when the season ends?
Performance from a prior season does not roll over; every sports index is rebased to 7,500 points in the offseason and the next season's accumulation starts there.
Does the index move when a team is out of the playoff race?
Yes, as long as the club is still playing, the gauge is official game statistics, not standings, and it stops updating once that team's season is over.