Mutual fund firm Index IQ is renaming three of its ETFs in an attempt to better articulate the investment strategy of the funds to shareholders. The investment objectives and strategies of the ETFs remains unchanged.

The fund firm dropped the word "ARB" out of the name of the IQ ARB Merger Arbitrage ETF and the IQ ARB Global Resources ETF.

A third ETF, IQ CPI Inflation Hedged ETF takes on an entirely new identity as IQ Real Return ETF.

The name changes took effect on Wednesday [see SEC filing]. 

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