Belgian Software Defensive Blue Chips

Quest Diagnostics

Market Cap: US$21.7b

Provides diagnostic testing and services in the United States.

First Citizens BancShares

Market Cap: US$21.6b

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.

Cellnex Telecom

Market Cap: €18.7b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Regions Financial

Market Cap: US$21.6b

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

STERIS

Market Cap: US$21.5b

Provides infection prevention products and services worldwide.

Sumitomo Mitsui Trust Group

Market Cap: JP¥3.4t

Operates as a trust bank in Japan and internationally.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$111.0b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

Koninklijke KPN

Market Cap: €18.3b

Provides telecommunications and information technology (IT) services in the Netherlands.

MTN Group

Market Cap: R358.3b

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

Sigma Healthcare

Market Cap: AU$30.5b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

Dollar Tree

Market Cap: US$20.9b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

KeyCorp

Market Cap: US$20.8b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

Federal Home Loan Mortgage

Market Cap: US$20.8b

Operates in the secondary mortgage market in the United States.

Banco BPM

Market Cap: €17.9b

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

Coca-Cola HBC

Market Cap: UK£15.4b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Bank of Nanjing

Market Cap: CN¥140.8b

Provides various financial products and services in China.

Bank of Shanghai

Market Cap: CN¥140.8b

Provides various banking products and services in China.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ74.8b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

NN Group

Market Cap: €17.6b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Saudi Awwal Bank

Market Cap: ر.س75.9b

Provides banking and financial services in the Kingdom of Saudi Arabia.

CIMB Group Holdings Berhad

Market Cap: RM 81.6b

Provides various banking products and services in Malaysia and internationally.

China United Network Communications

Market Cap: CN¥139.1b

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

Coles Group

Market Cap: AU$29.4b

Operates as a retailer in Australia.

Coca-Cola FEMSA. de

Market Cap: US$20.1b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

CK Infrastructure Holdings

Market Cap: HK$157.6b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

US Foods Holding

Market Cap: US$20.1b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Telia Company

Market Cap: SEK 189.7b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Humana

Market Cap: US$19.9b

Provides medical and specialty insurance products in the United States.

First Solar

Market Cap: US$19.8b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Heineken Holding

Market Cap: €17.0b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

Hon. Precision

Market Cap: NT$630.6b

Engages in the manufacture and sale of machinery and related components, automatic control equipment engineering, and machinery installations in Taiwan.

IHH Healthcare Berhad

Market Cap: RM 79.3b

An investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally.

Arca Continental. de

Market Cap: Mex$350.3b

Produces, distributes, and sells soft drinks in Mexico, Argentina, Ecuador, Peru, the United States, and internationally.

Terumo

Market Cap: JP¥3.1t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Hua Hong Semiconductor

Market Cap: HK$152.2b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, and Europe.

JD Health International

Market Cap: HK$151.1b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.