In sports, wins and losses determine standings. Soon they could help determine something else: a price. A group of financial firms is trying to turn sports results and statistics into something investors can actually trade. The idea starts with indexes that measure the performance of individual teams, creating the foundation for futures, ETFs and potentially an entirely new asset class built around sports.

On this episode of Trillions, Eric Balchunas and Vildana Hajric, a cross-asset editor with Bloomberg News, speak with FutureSports co-founder Leigh Taylforth and Head of Index Services Jodie Gunzberg about the financial infrastructure they’re building behind the new crop of sports ETF filings. They explain how to put a price on a team’s performance, why sports might offer investors something different from stocks and bonds, and how businesses could even use the products to hedge their exposure to wins and losses.

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Less than a year ago, Corgi Invest launched its first ETF. It now has more than 200, with hundreds more registered and potentially on the way. If they all make it to market, Corgi could soon offer more ETFs than BlackRock. The strategy is audacious: Launch as many products as possible, compete aggressively on price and see what catches on. Or, as the company's new chief investment officer puts it, try to become the Walmart of ETFs.

On this episode of Trillions, Eric Balchunas and Joel Weber speak with Corgi's Jeff Weniger, who recently joined the startup after a decade at WisdomTree. They discuss why Corgi is launching ETFs at a record pace, how AI and a youthful startup culture are helping it move so quickly, and the challenge of turning a memorable brand into actual assets. Weniger also talks about Corgi’s ambitions to get into Trump Accounts; why the ETFs are effectively a side hustle for the insurance business; and, naturally, the corgis behind the name, Hamilton and Napoleon among them.

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The 60/40 portfolio has been Investing 101 for generations. So why are ETF investors now closer to 80/20? Meanwhile, Republican and Democratic lawmakers don't agree on much — but their portfolios have some surprising stocks in common. And then there's September, historically the market's worst month but one of the busiest times of the year for new ETF launches.

On this episode of Trillions, Eric Balchunas and Joel Weber are joined by Bloomberg Intelligence ETF analyst Athanasios Psarofagis and Bloomberg News cross-asset reporter Isabelle Lee to dig into some of the more surprising signals hiding in the ETF data. They explore the rise of the 80/20 portfolio, what the holdings of US lawmakers reveal about their bipartisan investment tastes, and why September can be so lousy for markets — even as ETF issuers keep launching new funds.

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