Malawian Semiconductors Defensive Blue Chips

Ooredoo Q.P.S.C

Market Cap: ر.ق41.8b

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

First Horizon

Market Cap: US$11.5b

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

Skyworks Solutions

Market Cap: US$11.4b

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.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ41.8b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

HKT Trust and HKT

Market Cap: HK$88.4b

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.

BKW

Market Cap: CHF 9.1b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

IDBI Bank

Market Cap: ₹998.5b

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

Itissalat Al-Maghrib (IAM)

Market Cap: د.م102.3b

Provides various telecommunication solutions in Morocco and internationally.

Jentech Precision Industrial

Market Cap: NT$340.2b

Manufactures and sells precision molds and its material worldwide.

China Resources Beer (Holdings)

Market Cap: HK$87.1b

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

Acciona

Market Cap: €9.6b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Waaree Energies

Market Cap: ₹989.9b

Manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.

Globe Life

Market Cap: US$11.1b

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

Osaka Gas

Market Cap: JP¥1.7t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Mowi

Market Cap: NOK 110.9b

A seafood company, produces and sells Atlantic salmon products worldwide.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥79.2b

Beijing E-Town Semiconductor Technology Co., Ltd.

Assurant

Market Cap: US$11.1b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Baloise Holding

Market Cap: CHF 8.9b

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

JCET Group

Market Cap: CN¥78.9b

Provides integrated-circuit manufacturing and technology services in China and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥78.9b

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

ING Bank Slaski

Market Cap: zł40.0b

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

Industrial Bank of Korea

Market Cap: ₩15.4t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

China Zheshang Bank

Market Cap: HK$85.3b

Provides various commercial banking products and services in Mainland China.

Molina Healthcare

Market Cap: US$10.9b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces.

SinoPac Financial Holdings

Market Cap: NT$332.8b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

Anhui Gujing Distillery

Market Cap: CN¥77.5b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Tsingtao Brewery

Market Cap: CN¥77.5b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

United Spirits

Market Cap: ₹966.4b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Piraeus Financial Holdings

Market Cap: €9.3b

Provides banking products and services in Greece and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫286.1t

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

Kinsale Capital Group

Market Cap: US$10.9b

Engages in the provision of property and casualty insurance products in the United States.

mBank

Market Cap: zł39.5b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Taiwan Mobile

Market Cap: NT$329.7b

Provides wireless communication services in Taiwan, the Republic of China, and internationally.

Carrefour

Market Cap: €9.3b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

ICICI Lombard General Insurance

Market Cap: ₹958.0b

Provides various general insurance products and services in India.

Rambus

Market Cap: US$10.8b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.