Belgian Software Defensive Blue Chips

Alinma Bank

Market Cap: ر.س72.6b

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

Associated British Foods

Market Cap: UK£14.3b

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

NMBZ Holdings

Market Cap: US$2.5b

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

Arca Continental. de

Market Cap: Mex$329.1b

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

SBI Life Insurance

Market Cap: ₹1.8t

Operates as a life insurance company in India.

Wilmar International

Market Cap: S$24.6b

Operates as an agribusiness company in Singapore, the People's Republic of China, Indonesia, Malaysia, Australia, Europe, South Africa, Nigeria, Vietnam, India, and internationally.

Telenor

Market Cap: NOK 182.2b

Operates as a telecommunication company worldwide.

Xi'an ESWIN Material Technology

Market Cap: CN¥127.9b

Xi'an ESWIN Material Technology Co., Ltd.

Commercial Bank for Foreign Trade of Vietnam

Market Cap: ₫498.8t

Provides banking products and services in Vietnam.

Saudi Energy

Market Cap: ر.س70.9b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Krung Thai Bank

Market Cap: ฿621.9b

Engages in commercial banking business in Thailand and internationally.

Eurobank

Market Cap: €16.2b

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

Telefônica Brasil

Market Cap: R$96.3b

Operates as a mobile telecommunications company in Brazil.

Zimmer Biomet Holdings

Market Cap: US$18.5b

Operates as a medical technology company worldwide.

Banco Comercial Português

Market Cap: €16.1b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Hua Nan Financial Holdings

Market Cap: NT$595.3b

Provides financial services in Taiwan and internationally.

E.SUN Financial Holding Company

Market Cap: NT$594.4b

Offers various financial banking products and services in Taiwan.

Wilson Bank Holding

Market Cap: US$18.4b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in the United States.

Samsung Fire & Marine Insurance

Market Cap: ₩26.1t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Telecom Italia

Market Cap: €15.9b

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: R296.0b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

SinoPac Financial Holdings

Market Cap: NT$589.1b

Through its subsidiaries, provides banking services worldwide.

East West Bancorp

Market Cap: US$18.2b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Skyverse Technology

Market Cap: CN¥122.5b

Manufactures and sells quality control equipment to enterprises involved in the front-end integrated circuit processes and packaging in China and internationally.

IHH Healthcare Berhad

Market Cap: RM 73.8b

An investment holding company, provides healthcare services in Singapore, Malaysia, India, Greater China, Japan, Türkiye and Europe, and internationally.

James Hardie Industries

Market Cap: AU$25.5b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Bank Polska Kasa Opieki

Market Cap: zł67.1b

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

Lattice Semiconductor

Market Cap: US$17.9b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

Performance Food Group

Market Cap: US$17.9b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

Saudi Awwal Bank

Market Cap: ر.س67.0b

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

S.P.E.E.H. Hidroelectrica

Market Cap: RON 81.0b

Produces and supplies electricity from hydroelectric and wind sources in Romania.

Kasikornbank

Market Cap: ฿585.4b

Provides commercial banking products and services in Thailand and internationally.

Telia Company

Market Cap: SEK 169.6b

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

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$91.1b

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

Sonova Holding

Market Cap: CHF 14.3b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Koninklijke KPN

Market Cap: €15.1b

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