An Investable Market Index is a type of stock market index that aims to represent the entire investable universe of a specific market. It includes a wide range of securities, such as stocks from large, mid, and small-cap companies, making it a comprehensive benchmark for investors. This index helps investors gauge overall market performance and make informed investment decisions. These indices are often used by fund managers to create investment products like exchange-traded funds (ETFs) and mutual funds. By tracking an Investable Market Index, investors can gain exposure to a broad array of stocks, reducing the risk associated with investing in individual securities.