Tanzanian Software Defensive Blue Chips

Airtel Africa

Market Cap: UK£13.6b

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

Bank of Hangzhou

Market Cap: CN¥125.3b

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

Bank Polska Kasa Opieki

Market Cap: zł65.8b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

JDE Peet's

Market Cap: €15.4b

Operates as a coffee and tea company worldwide.

China Jushi

Market Cap: CN¥123.4b

Manufactures and sells fiberglass and related products in China and internationally.

Associated British Foods

Market Cap: UK£13.2b

Engages in the food, ingredients, and retail businesses worldwide.

Kansai Electric Power Company

Market Cap: JP¥2.8t

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

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp306.1t

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

Raiffeisen Bank International

Market Cap: €15.1b

Offers banking services to corporate, retail, and institutional customers.

Straumann Holding

Market Cap: CHF 13.9b

Provides tooth replacement and orthodontic solutions in Switzerland, the United States, China, Germany, Brazil, Japan, France, and internationally.

Woori Financial Group

Market Cap: ₩25.8t

Operates as a bank which provides various financial services in Korea, China, the United States, the United Kingdom, Japan, and internationally.

WH Group

Market Cap: HK$136.5b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

Mediobanca Banca di Credito Finanziario

Market Cap: €14.8b

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

Power Assets Holdings

Market Cap: HK$135.8b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, and internationally.

Elia Group

Market Cap: €14.7b

Develops and operates as a transmission system operator in Belgium and Germany.

CEMEX. de

Market Cap: Mex$298.0b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

NMBZ Holdings

Market Cap: US$2.2b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

Telecom Italia

Market Cap: €14.6b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

Vodacom Group

Market Cap: R280.9b

Provides communications products and services.

Eurobank

Market Cap: €14.5b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Hua Xia Bank

Market Cap: CN¥115.7b

Provides commercial banking services in China and Hong Kong.

Banco Santander-Chile

Market Cap: CL$15.0t

Provides commercial and retail banking products and services in Chile.

Bank of Beijing

Market Cap: CN¥115.7b

Provides various banking services to individuals and corporates in China.

OmniVision Integrated Circuits Group

Market Cap: CN¥114.8b

Engages in the design, development, and sale of integrated circuits and computer software and hardware in China and internationally.

E.SUN Financial Holding Company

Market Cap: NT$532.9b

Offers various financial banking products and services in Taiwan.

Tenet Healthcare

Market Cap: US$16.8b

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

Wens Foodstuff Group

Market Cap: CN¥114.4b

Operates as an agricultural and animal husbandry company in China.

Shenzhen Techwinsemi Technology

Market Cap: CN¥113.7b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Anhui Conch Cement

Market Cap: CN¥113.3b

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

ING Bank Slaski

Market Cap: zł59.7b

Provides various banking products and services for retail clients and businesses in Poland.

Piotech

Market Cap: CN¥113.1b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

ASPEED Technology

Market Cap: NT$524.5b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Powszechny Zaklad Ubezpieczen

Market Cap: zł59.1b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Yuanjie Semiconductor Technology

Market Cap: CN¥110.2b

Yuanjie Semiconductor Technology Co., Ltd.

Varun Beverages

Market Cap: ₹1.5t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Nova

Market Cap: US$16.1b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.