Pakistani Materials Defensive Blue Chips

Zurich Insurance Group

Market Cap: CHF 79.0b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Sumitomo Mitsui Financial Group

Market Cap: JP¥15.0t

Provides banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania.

McKesson

Market Cap: US$97.8b

Provides healthcare services in the United States and internationally.

BNP Paribas

Market Cap: €83.7b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

China Yangtze Power

Market Cap: CN¥687.8b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

AXA

Market Cap: €82.2b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

Postal Savings Bank of China

Market Cap: HK$730.8b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

State Bank of India

Market Cap: ₹8.2t

Provides banking products and services in India and internationally.

AIA Group

Market Cap: HK$724.1b

Provides life insurance based financial services in Hong Kong.

Marsh & McLennan Companies

Market Cap: US$92.9b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Tokyo Electron

Market Cap: JP¥13.8t

Develops, manufactures, and sells semiconductor production equipment in Japan, South Korea, Taiwan, China, North America, Europe, and internationally.

Econet Wireless Zimbabwe

Market Cap: US$11.6b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

Bank of Montreal

Market Cap: CA$125.4b

Engages in the provision of diversified financial services primarily in North America.

Semiconductor Manufacturing International

Market Cap: HK$680.5b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

NTT

Market Cap: JP¥13.1t

Operates as a telecommunications company in Japan and internationally.

National Australia Bank

Market Cap: AU$132.3b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Westpac Banking

Market Cap: AU$132.3b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

China Telecom

Market Cap: HK$664.2b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

Bank of Communications

Market Cap: HK$640.5b

Provides commercial banking products and services in China and internationally.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €69.8b

Engages in the insurance and reinsurance businesses worldwide.

Advantest

Market Cap: JP¥12.3t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe.

Cigna Group

Market Cap: US$79.9b

Provides insurance and related products and services in the United States.

Bank of Nova Scotia

Market Cap: CA$110.9b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

CRH

Market Cap: US$78.7b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Elevance Health

Market Cap: US$78.5b

Operates as a health benefits company in the United States.

Nongfu Spring

Market Cap: HK$599.4b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Marvell Technology

Market Cap: US$75.8b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

Tokio Marine Holdings

Market Cap: JP¥11.4t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

Mizuho Financial Group

Market Cap: JP¥11.4t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

National Grid

Market Cap: UK£56.1b

Engages in the transmission and distribution of electricity and gas.

Aon

Market Cap: US$74.7b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Barito Renewables Energy

Market Cap: Rp1244.2t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Canadian Imperial Bank of Commerce

Market Cap: CA$104.6b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Hygon Information Technology

Market Cap: CN¥529.6b

Engages in the research and development of computing chip products and systems in China.

Cambricon Technologies

Market Cap: CN¥522.0b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

Nu Holdings

Market Cap: US$72.5b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.