Global Software Defensive Blue Chips

Abu Dhabi National Energy Company PJSC

Market Cap: د.إ376.7b

Operates as an integrated utility company in the United Arab Emirates, North America, Europe, Africa, and internationally.

Al Rajhi Banking and Investment

Market Cap: ر.س384.2b

Provides banking and investment services in the Kingdom of Saudi Arabia and internationally.

Postal Savings Bank of China

Market Cap: HK$790.1b

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

AIA Group

Market Cap: HK$763.9b

Provides life insurance based financial services in Hong Kong.

Constellation Energy

Market Cap: US$97.6b

Produces and sells energy products and services in the United States.

Enel

Market Cap: €82.4b

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

HCA Healthcare

Market Cap: US$94.6b

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

Econet Wireless Zimbabwe

Market Cap: US$12.2b

Through its subsidiaries, primarily provides mobile telecommunications and related value added services in Zimbabwe.

China Telecom

Market Cap: HK$729.1b

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.

NTT

Market Cap: JP¥13.5t

Operates as a telecommunications company in Japan and internationally.

CVS Health

Market Cap: US$90.6b

Provides health solutions in the United States.

McKesson

Market Cap: US$87.8b

Provides healthcare services in the United States and internationally.

Bank of Communications

Market Cap: HK$682.3b

Provides commercial banking products and services in China and internationally.

Westpac Banking

Market Cap: AU$133.1b

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

State Bank of India

Market Cap: ₹7.5t

Provides banking products and services in India and internationally.

Tokio Marine Holdings

Market Cap: JP¥12.6t

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

National Australia Bank

Market Cap: AU$129.8b

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

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €71.8b

Engages in the insurance and reinsurance businesses worldwide.

Bank of Montreal

Market Cap: CA$113.0b

Provides diversified financial services primarily in North America.

Mizuho Financial Group

Market Cap: JP¥12.0t

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

Aon

Market Cap: US$80.9b

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

Cigna Group

Market Cap: US$80.3b

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

Arthur J. Gallagher

Market Cap: US$78.3b

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

SoftBank

Market Cap: JP¥11.5t

Engages in the telecommunication and information technology businesses in Japan.

PNC Financial Services Group

Market Cap: US$76.4b

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

CRH

Market Cap: US$74.4b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

CaixaBank

Market Cap: €62.2b

Provides various banking products and financial services in Spain and internationally.

Cambricon Technologies

Market Cap: CN¥519.8b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

Semiconductor Manufacturing International

Market Cap: HK$566.7b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

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.

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.

Barclays

Market Cap: UK£52.6b

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

National Grid

Market Cap: UK£52.6b

Engages in the transmission and distribution of electricity and gas.

Bank of Nova Scotia

Market Cap: CA$98.0b

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

ING Groep

Market Cap: €60.4b

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

Elevance Health

Market Cap: US$69.7b

Operates as a health benefits company in the United States.