Two students at York University in Toronto, Canada, are the winners of the second exchange traded fund (ETF) contest.

Clear Indexes sponsored the contest, and Sean Vrbica and Vlad Berbece joined forces in their idea: an ETF that invests in international sports. The concept focuses on publicly-traded equities of holding companies that own professional sports teams and clubs. The idea is to capitalize on the large and devoted fan base of those teams, which typically grow even when there's an economic downturn.

Vrbica and Berbece will win $5,000, a paid internship and the chance to participate in a bell ringing ceremony for the ETF based on their concept.

The winner of the first contest was James Baker, a student at NYU. His idea was a U.S. Exporters Index that seeks to benefit from a growing global economy, along with the reduced value of the dollar. It is made up of large-to mid-cap companies that obtain a material portion of their revenue outside the U.S.

Clear Indexes is now coming up with plans for its fall competition.