Botswanan Software Defensive Blue Chips

Zurich Insurance Group

Market Cap: CHF 79.2b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Postal Savings Bank of China

Market Cap: HK$727.4b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

China Telecom

Market Cap: HK$710.7b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

Intel

Market Cap: US$90.5b

Designs, develops, manufactures, markets, and sells computing and related products and services worldwide.

Enel

Market Cap: €78.0b

Operates as an integrated operator in electricity and gas industries worldwide.

Mondelez International

Market Cap: US$90.1b

Through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe.

Banco Bilbao Vizcaya Argentaria

Market Cap: €77.8b

Provides retail banking, wholesale banking, and asset management services primarily in Spain, Mexico, Turkey, South America, rest of Europe, the United States, and Asia.

Bank of Communications

Market Cap: HK$697.1b

Provides commercial banking products and services in China.

McKesson

Market Cap: US$88.4b

Provides healthcare services in the United States and internationally.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €74.6b

Engages in the insurance and reinsurance businesses worldwide.

State Bank of India

Market Cap: ₹7.4t

Provides banking products and services in India and internationally.

NTT

Market Cap: JP¥12.5t

Operates as a telecommunications company in Japan and internationally.

Tokyo Electron

Market Cap: JP¥12.4t

Develops, manufactures, and sells semiconductor production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally.

HCA Healthcare

Market Cap: US$81.9b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

Bank of Montreal

Market Cap: CA$112.4b

Provides diversified financial services primarily in North America.

Aon

Market Cap: US$79.6b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Arthur J. Gallagher

Market Cap: US$79.2b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Cigna Group

Market Cap: US$78.1b

Provides insurance and related products and services in the United States.

Tokio Marine Holdings

Market Cap: JP¥11.5t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

PNC Financial Services Group

Market Cap: US$76.4b

Operates as a diversified financial services company in the United States.

National Australia Bank

Market Cap: AU$116.7b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

CVS Health

Market Cap: US$75.4b

Provides health solutions in the United States.

Westpac Banking

Market Cap: AU$113.4b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

Mizuho Financial Group

Market Cap: JP¥10.9t

Engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

MediaTek

Market Cap: NT$2.2t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

U.S. Bancorp

Market Cap: US$71.8b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

Bank of Nova Scotia

Market Cap: CA$96.3b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

Barclays

Market Cap: UK£52.3b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

National Grid

Market Cap: UK£51.8b

Engages in the transmission and distribution of electricity and gas.

Canadian Imperial Bank of Commerce

Market Cap: CA$94.8b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

SoftBank

Market Cap: JP¥10.2t

Engages in the telecommunication and information technology businesses in Japan.

ING Groep

Market Cap: €58.1b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

Industrial Bank

Market Cap: CN¥480.6b

Provides banking services in the People’s Republic of China.

Wuliangye YibinLtd

Market Cap: CN¥479.5b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

Nongfu Spring

Market Cap: HK$521.8b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Vistra

Market Cap: US$66.5b

Operates as an integrated retail electricity and power generation company in the United States.