Namibian Materials Defensive Blue Chips

Montage Technology

Market Cap: CN¥346.7b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and AI infrastructure in the People’s Republic of China.

Orange

Market Cap: €44.9b

Operates as a telecommunications operator in France and internationally.

United Overseas Bank

Market Cap: S$66.0b

Provides banking products and services worldwide.

Holcim

Market Cap: CHF 41.3b

Provides building materials and solutions in Europe, Latin America, and Asia, Middle East, and Africa.

Erste Group Bank

Market Cap: €44.7b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Danone

Market Cap: €44.5b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

Wal-Mart de México. de

Market Cap: Mex$887.9b

Owns and operates self-service stores in Mexico and Central America.

Credo Technology Group Holding

Market Cap: US$50.2b

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

Microchip Technology

Market Cap: US$50.1b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Edwards Lifesciences

Market Cap: US$50.1b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally.

Fifth Third Bancorp

Market Cap: US$49.8b

Operates as the bank holding company for Fifth Third Bank, National Association that provides a range of financial products and services in the United States.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Ambev

Market Cap: R$255.1b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

Moore Threads Technology

Market Cap: CN¥329.0b

Engages in the development of GPU chips and related products.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.8b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Adani Power

Market Cap: ₹4.4t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Nanya Technology

Market Cap: NT$1.5t

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

Diageo

Market Cap: UK£35.1b

Engages in the production, marketing, and distribution of alcoholic beverages in North America, Europe, the Asia Pacific, Latin America and Caribbean, and Africa.

Endesa

Market Cap: €40.6b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ168.7b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

GLOBALFOUNDRIES

Market Cap: US$45.9b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Swiss Re

Market Cap: CHF 37.2b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Commerzbank

Market Cap: €40.4b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, and Asia.

Heineken

Market Cap: €40.1b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

FBC Holdings

Market Cap: US$5.9b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

ON Semiconductor

Market Cap: US$45.4b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Axis Bank

Market Cap: ₹4.3t

Provides various financial products and services in India and internationally.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥308.3b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Coca-Cola Europacific Partners

Market Cap: €38.9b

Produces, distributes, and sells a range of non-alcoholic ready-to-drink beverages.

Qatar National Bank (Q.P.S.C.)

Market Cap: ر.ق159.4b

Provides conventional and Islamic banking products and services in Qatar, Europe, North America, rest of GCC countries, and internationally.

RWE

Market Cap: €38.5b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Humana

Market Cap: US$43.4b

Provides medical and specialty insurance products in the United States.

Shanghai Pudong Development Bank

Market Cap: CN¥294.8b

Provides commercial banking products and services in China and internationally.

Siemens Healthineers

Market Cap: €38.2b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

IDEXX Laboratories

Market Cap: US$43.3b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

Kotak Mahindra Bank

Market Cap: ₹4.1t

Provides a range of banking and financial services to corporate and individual customers in India.