Malawian Materials Defensive Blue Chips

Indian Bank

Market Cap: ₹1.1t

Provides various banking products and services.

CNA Financial

Market Cap: US$12.2b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States, Canada, the United Kingdom, Continental Europe, and internationally.

Pro Medicus

Market Cap: AU$17.1b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

Nexchip Semiconductor

Market Cap: CN¥81.9b

Engages in the research, development, production, and sale of integrated circuit-related products in China and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق44.1b

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

Almarai

Market Cap: ر.س45.3b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥81.6b

Henan Shuanghui Investment & Development Co.,Ltd.

Shanghai Rural Commercial Bank

Market Cap: CN¥81.5b

Engages in commercial banking business in China.

Webster Financial

Market Cap: US$12.1b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Israel Discount Bank

Market Cap: ₪35.2b

Provides various banking and financial services in Israel, Europe, and North America.

Yokohama Financial Group

Market Cap: JP¥1.9t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Saputo

Market Cap: CA$16.8b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

Tata Consumer Products

Market Cap: ₹1.1t

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

Discovery

Market Cap: R192.1b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Erie Indemnity

Market Cap: US$11.8b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

First Horizon

Market Cap: US$11.7b

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

Sanan OptoelectronicsLtd

Market Cap: CN¥79.2b

Engages in the research, development, production, and sale of compound semiconductor materials and devices in China and internationally.

Great Eastern Holdings

Market Cap: S$15.0b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Konfoong Materials International

Market Cap: CN¥79.2b

Konfoong Materials International Co., Ltd.

SG Micro

Market Cap: CN¥79.1b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥78.9b

Beijing E-Town Semiconductor Technology Co., Ltd.

iA Financial

Market Cap: CA$16.3b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

HKT Trust and HKT

Market Cap: HK$91.1b

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: ₫305.0t

Provides various banking products and services in Vietnam and internationally.

Taiwan Mobile

Market Cap: NT$365.2b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

Ingenic SemiconductorLtd

Market Cap: CN¥78.2b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

China Zheshang Bank

Market Cap: HK$90.6b

Provides corporate and retail banking services in Mainland China.

Henan Shijia Photons Technology

Market Cap: CN¥78.2b

Henan Shijia Photons Technology Co., Ltd.

Sanlam

Market Cap: R186.9b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

BJ's Wholesale Club Holdings

Market Cap: US$11.5b

Operates membership warehouse clubs on the eastern half of the United States.

Budweiser Brewing Company APAC

Market Cap: HK$90.1b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Skyworks Solutions

Market Cap: US$11.5b

Develops, manufactures, and markets analog and mixed-signal semiconductor products and solutions in the United States, Taiwan, China, South Korea, Europe, the Middle East, Africa, and the Asia Pacific.

Aier Eye Hospital Group

Market Cap: CN¥77.0b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

BDO Unibank

Market Cap: ₱685.0b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

WinWay Technology

Market Cap: NT$358.4b

Designs, processes, and sells optoelectronic product test fixtures, integrated circuit test interfaces, and fixtures and their components in Taiwan, the Americas, China, Asia, Europe, and Canada.