Sports and stocks go hand in hand.

Wall Street denizens often talk about slam dunk investments and describe the economic cycle as being in a particular inning.

So it makes perfect sense that there's an ETF dedicated to the business of sports.

The ProSports Sponsors exchange-traded fund, which has the ticker symbol FANZ (FANZ), invests in companies that have business deals with the four major US team sports leagues.

Nick Fullerton, CEO of SportsETFs, the company behind the fund, said it was set up last year to take advantage of the popularity of team sports, which bring in big dollars.

Legal gambling, which is set to spread across the United States, could boost that popularity even more.

Fullerton was quick to point out that the companies in the FANZ ETF must have an actual sponsorship with a major league, and not just a naming rights deal on a stadium.