You are using words badly. The verb "to index" in this context might mean:

• investing in something that will provide the returns of an index
• replicating an existing index
• constructing a new index

Clarity is doing none of these things. What it sounds like he is doing is trying to have a more-or-less diversified portfolio of stocks. But that has nothing to do with indexing.

just like all other funds that index; they index because those things trend upward

And that is what my original "no" referred to. It's still no.

If you interpret "those things" which "trend upwards" as financial assets that (usually, over the long term, are expected to) produce positive returns -- in other words, are not zero-sum -- then there are whole asset classes like that, for example equity (stocks). All stocks are "things which trend upward", and it has nothing to do with indexes or indexing.

"Funds that index" are funds which invest in a portfolio that replicates the performance of some index. They do this because there is customer demand for such financial products, not because indexes, and there is a great variety of them, have a particular tendency to trend upward.