IndexIQ Advisors has dropped Mellon Capital Management as subadvisor for two of its funds, iStockAnalyst reports. The IQ Real Return ETF and the IQ Global Resources ETF will now be managed by IndexIQ’s portfolio management team.

The lead portfolio manager for the funds is Julie Abbett, who is senior vice president and head of portfolio management for IndexIQ. Esposito Partners, which is unaffiliated with the advisor, may be the investment sub-advisor to the IQ Merger Arbitrage ETF upon the fund’s commencement of operations pursuant to a sub-advisory agreement with the advisor.

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