Namibian Software Defensive Blue Chips

Aviva

Market Cap: UK£20.6b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

PPL

Market Cap: US$27.3b

Provides electricity and natural gas to approximately 3.6 million customers in the United States.

Huaneng Lancang River Hydropower

Market Cap: CN¥184.1b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

TS Financial Holding

Market Cap: NT$877.8b

Provides various financial products and services.

Yuanjie Semiconductor Technology

Market Cap: CN¥182.5b

Yuanjie Semiconductor Technology Co., Ltd.

China National Nuclear Power

Market Cap: CN¥182.2b

Engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China.

Banco de Crédito del Perú

Market Cap: S/91.6b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

China Everbright Bank

Market Cap: CN¥181.9b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Banco BPM

Market Cap: €23.6b

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

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥179.7b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

QBE Insurance Group

Market Cap: AU$37.6b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Regions Financial

Market Cap: US$26.3b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

Tower Semiconductor

Market Cap: US$26.3b

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

American Water Works Company

Market Cap: US$26.3b

Through its subsidiaries, provides water and wastewater services in the United States.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 21.5b

Engages in the development, manufacture, and sale of chocolate products worldwide.

Huadian New Energy Group

Market Cap: CN¥176.9b

Engages in the power generation business in China.

Helvetia Baloise Holding

Market Cap: CHF 21.4b

Engages in life and non-life insurance, and reinsurance business.

China Unicom (Hong Kong)

Market Cap: HK$204.4b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Barito Renewables Energy

Market Cap: Rp462.9t

Generates and sells power through geothermal and wind resources in Indonesia.

AIB Group

Market Cap: €22.7b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

Dollar General

Market Cap: US$25.9b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

New China Life Insurance

Market Cap: CN¥174.2b

Provides life insurance products and services to individuals and institutions in China.

EnBW Energie Baden-Württemberg

Market Cap: €22.5b

Operates as an integrated energy company in Germany, Rest of Europe, and internationally.

Koninklijke Philips

Market Cap: €22.5b

Operates as a health technology company in North America, the Greater China, and internationally.

Mediobanca Banca di Credito Finanziario

Market Cap: €22.4b

Provides various banking products and services in Italy, Other European countries, the United States, Asia, and internationally.

BT Group

Market Cap: UK£19.0b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Quest Diagnostics

Market Cap: US$25.1b

Provides diagnostic testing and services in the United States.

National Bank of KuwaitK.P

Market Cap: د.ك7.8b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Markel Group

Market Cap: US$25.0b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

MTN Group

Market Cap: R416.4b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp444.2t

Provides various banking products and services in Indonesia and internationally.

CLP Holdings

Market Cap: HK$194.7b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Public Bank Berhad

Market Cap: RM 100.5b

Provides banking products and services.

First Citizens BancShares

Market Cap: US$24.3b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥164.8b

Inner Mongolia Yili Industrial Group Co., Ltd.

Labcorp Holdings

Market Cap: US$24.3b

Provides laboratory services.