I may be missing your point and I've seen the posts around using ETFs in OLMAR but I'm not trying to build a sector ETF version of OLMAR. Check out the code and the transactions and you can see that its trading financial stocks exclusively.
I'm taking a basket of stocks in a sector and seeing if they beat the ETF as a benchmark. I figure if you can do that on a set of sectors then you can diversify based on the sectors themselves and have a lower beta accordingly. Does that make sense? Do you think that is not possible to out perform a sector using OLMAR like Grant's original version does for the market as a whole?