The present invention discloses systems and methods for creating and managing financial instruments and indexes comprised of securities for companies in subsectors of the economy. These financial instruments allow investment in subsectors of the economy will still being able to minimize risk by diversification. The indexes serve as benchmarks for companies in the subsectors of the economy. A procedure may be used to identify the securities to include in the financial instruments. This procedure may include (a) identifying securities for companies in a sector of the economy; (b) limiting the identified securities to those for companies in a subsector of the sector of the economy; (c) applying focus rules to further limit the identified securities to those for companies who are focused in the subsector of the economy; and (d) limiting the securities included in the financial instrument or index to those that satisfy other objective criteria.