Emirati Materials Defensive Blue Chips

Sumitomo Mitsui Financial Group

Market Cap: JP¥13.9t

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

Postal Savings Bank of China

Market Cap: HK$734.4b

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

Enel

Market Cap: €80.1b

Operates as an integrated operator in electricity and gas industries worldwide.

Bank of Communications

Market Cap: HK$722.3b

Provides commercial banking products and services in China.

China Telecom

Market Cap: HK$722.2b

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.

AIA Group

Market Cap: HK$709.7b

Provides life insurance based financial services in Hong Kong.

McKesson

Market Cap: US$89.5b

Provides healthcare services in the United States and internationally.

Mondelez International

Market Cap: US$87.4b

Through its subsidiaries, manufactures, markets, and sells snack food and beverage products in the Latin America, North America, Asia, the Middle East, Africa, and Europe.

HCA Healthcare

Market Cap: US$87.2b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €74.2b

Engages in the insurance and reinsurance businesses worldwide.

State Bank of India

Market Cap: ₹7.4t

Provides banking products and services in India and internationally.

Tokyo Electron

Market Cap: JP¥12.7t

Develops, manufactures, and sells semiconductor production equipment and flat panel displays in Japan, Europe, North America, Taiwan, China, South Korea, Southeast Asia, and internationally.

Banco Bilbao Vizcaya Argentaria

Market Cap: €73.6b

Provides retail banking, wholesale banking, and asset management services primarily in Spain, Mexico, Turkey, South America, rest of Europe, the United States, and Asia.

NTT

Market Cap: JP¥12.4t

Operates as a telecommunications company in Japan and internationally.

Bank of Montreal

Market Cap: CA$112.4b

Provides diversified financial services primarily in North America.

Cigna Group

Market Cap: US$81.7b

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

CVS Health

Market Cap: US$80.7b

Provides health solutions in the United States.

Arthur J. Gallagher

Market Cap: US$79.4b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Elevance Health

Market Cap: US$77.8b

Operates as a health benefits company in the United States.

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.

Aon

Market Cap: US$76.6b

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

National Australia Bank

Market Cap: AU$118.2b

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

PNC Financial Services Group

Market Cap: US$76.4b

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

MediaTek

Market Cap: NT$2.2t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

Westpac Banking

Market Cap: AU$115.2b

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

Industrial Bank

Market Cap: CN¥514.0b

Provides banking services in the People’s Republic of China.

U.S. Bancorp

Market Cap: US$71.2b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

SoftBank

Market Cap: JP¥10.4t

Engages in the telecommunication and information technology businesses in Japan.

National Grid

Market Cap: UK£51.5b

Engages in the transmission and distribution of electricity and gas.

Mizuho Financial Group

Market Cap: JP¥10.3t

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

Bank of Nova Scotia

Market Cap: CA$93.9b

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

Life Insurance Corporation of India

Market Cap: ₹5.9t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Wuliangye YibinLtd

Market Cap: CN¥488.4b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

ING Groep

Market Cap: €58.3b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

Canadian Imperial Bank of Commerce

Market Cap: CA$92.8b

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.

Nu Holdings

Market Cap: US$66.8b

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