Ghanaian Materials Defensive Blue Chips

Zegona Communications

Market Cap: UK£9.0b

Provides integrated telecommunications services in Spain.

Tata Consumer Products

Market Cap: ₹1.1t

Produces, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$373.2b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

Dino Polska

Market Cap: zł44.5b

Operates a network of mid-sized grocery supermarkets under the Dino brand name in Poland.

Tele2

Market Cap: SEK 114.9b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.0b

Henan Shuanghui Investment & Development Co.,Ltd.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م108.9b

Provides various telecommunication solutions in Morocco and internationally.

Arab National Bank

Market Cap: ر.س45.0b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

China Zheshang Bank

Market Cap: HK$92.9b

Provides various commercial banking products and services in Mainland China.

Baloise Holding

Market Cap: CHF 9.6b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥85.4b

Beijing E-Town Semiconductor Technology Co., Ltd.

Kasikornbank

Market Cap: ฿387.4b

Provides commercial banking products and services in Thailand and internationally.

GD Power DevelopmentLtd

Market Cap: CN¥85.3b

Operates as a power generation company in China.

Unum Group

Market Cap: US$11.8b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

Shanghai Rural Commercial Bank

Market Cap: CN¥83.6b

Provides a range of banking products and services to individual and corporate customers in China.

Banca Monte dei Paschi di Siena

Market Cap: €10.0b

Engages in the provision of retail and commercial banking services in Italy.

Kirin Holdings Company

Market Cap: JP¥1.7t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Telecom Italia

Market Cap: €10.0b

Engages in the fixed and mobile telecommunications services in Italy and internationally.

NMBZ Holdings

Market Cap: US$1.5b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

China Resources Beer (Holdings)

Market Cap: HK$90.1b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Chandra Daya Investasi

Market Cap: Rp189.7t

Operates as an infrastructure investment holding company.

BB Seguridade Participações

Market Cap: R$62.6b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Universal Health Services

Market Cap: US$11.5b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

First Horizon

Market Cap: US$11.5b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

RenaissanceRe Holdings

Market Cap: US$11.5b

Provides reinsurance and insurance products in the United States and internationally.

James Hardie Industries

Market Cap: AU$17.8b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

HKT Trust and HKT

Market Cap: HK$89.3b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫300.5t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

ING Bank Slaski

Market Cap: zł41.6b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.3b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Maplebear

Market Cap: US$11.3b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

Globe Life

Market Cap: US$11.3b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Union Bank of India

Market Cap: ₹989.8b

Provides banking products and services in India.

IDBI Bank

Market Cap: ₹987.8b

Provides banking and financial solutions to retail and corporate customers in India.

Skyworks Solutions

Market Cap: US$11.2b

Designs, develops, manufactures, and markets semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific.

Alibaba Health Information Technology

Market Cap: HK$87.3b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.