Bank of New York Mellon Corp. announced that it will provide subadvisory, transfer agency, fund accounting, fund administration, and custody services for RevenueShares Investor Services LLC's RevenueShares ETFs.

The three index exchange-traded funds — the RevenueShares Large Cap Fund, the RevenueShares Mid Cap Fund, and the RevenueShares Small Cap Fund — are weighted by the revenue of the companies in the Standard & Poor's core domestic indexes instead of by market capitalization, the most common way to structure index funds.

The subadvisory services will be provided through BNY Mellon Asset Management, and the other services will be provided through BNY Mellon Asset Servicing, Bank of New York Mellon said Monday.

RevenueShares Investor Services provides index-driven ETFs for institutional and retail investors.

As of Dec. 31, Bank of New York Mellon has $23 trillion of assets under custody and administration, including more than $1.1 trillion of assets under management, and it services $11 trillion of outstanding debt.

Originally published in American Banker.