Malawian Software Defensive Blue Chips

Heineken Holding

Market Cap: €17.1b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

Credo Technology Group Holding

Market Cap: US$19.8b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Lasertec

Market Cap: JP¥3.1t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

US Foods Holding

Market Cap: US$19.7b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

HANMI Semiconductor

Market Cap: ₩29.4t

Manufactures and sells semiconductor equipment in South Korea and internationally.

Telia Company

Market Cap: SEK 182.9b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Banco BPM

Market Cap: €16.9b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

Saudi Awwal Bank

Market Cap: ر.س72.9b

Provides banking and financial services in the Kingdom of Saudi Arabia.

Grupo Cibest

Market Cap: Col$71.4t

Provides various banking products and services in Colombia and internationally.

Mizrahi Tefahot Bank

Market Cap: ₪60.5b

Provides various banking services in Israel and internationally.

TS Financial Holding

Market Cap: NT$613.0b

Provides various financial products and services.

Banco de Chile

Market Cap: CL$17.7t

Provides commercial banking services in Chile.

Terumo

Market Cap: JP¥3.0t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Pernod Ricard

Market Cap: €16.2b

Produces and sells wines and spirits worldwide.

OmniVision Integrated Circuits Group

Market Cap: CN¥128.9b

OmniVision Integrated Circuits Group, Inc.

Alinma Bank

Market Cap: ر.س70.2b

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

Tower Semiconductor

Market Cap: US$18.7b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Principal Financial Group

Market Cap: US$18.6b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Arca Continental. de

Market Cap: Mex$333.9b

Produces, distributes, and sells soft drinks in Mexico, Argentina, Ecuador, Peru, the United States, and internationally.

Wilmar International

Market Cap: S$23.7b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

Eastroc Beverage (Group)

Market Cap: CN¥126.9b

Engages in the manufacturing and distribution of beverages in China, Vietnam, and Malaysia.

Commercial Bank for Foreign Trade of Vietnam

Market Cap: ₫484.6t

Provides banking products and services in Vietnam.

Kansai Electric Power Company

Market Cap: JP¥2.9t

Engages in electricity, gas and heat supply, and telecommunication and gas supply in Japan.

Mega Financial Holding

Market Cap: NT$574.8b

Provides various financial services in Taiwan.

China Three Gorges Renewables (Group)Ltd

Market Cap: CN¥123.8b

China Three Gorges Renewables (Group) Co.,Ltd.

Tenet Healthcare

Market Cap: US$17.8b

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

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp302.1t

Provides information and communications technology, and telecommunications network services worldwide.

JDE Peet's

Market Cap: €15.4b

Operates as a coffee and tea company worldwide.

Legal & General Group

Market Cap: UK£13.3b

Provides various insurance products and services in the United Kingdom, the United States, and internationally.

Bank of Hangzhou

Market Cap: CN¥121.2b

Provides various banking products and services for individuals, corporate, and small and micro businesses in China.

Zimmer Biomet Holdings

Market Cap: US$17.6b

Operates as a medical technology company worldwide.

Centene

Market Cap: US$17.5b

Operates as a managed care company that provides programs and services to under-insured families, and commercial organizations in the United States.

Jentech Precision Industrial

Market Cap: NT$557.7b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Anhui Conch Cement

Market Cap: CN¥119.5b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Banco de Sabadell

Market Cap: €14.9b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

Airtel Africa

Market Cap: UK£12.9b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.