Belgian Software Defensive Blue Chips

BAWAG Group

Market Cap: €10.5b

Operates as a holding company for BAWAG P.S.K.

China Resources Microelectronics

Market Cap: CN¥86.3b

Engages in the manufacture and sale of semiconductors in China and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق45.0b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Cochlear

Market Cap: AU$17.9b

Provides implantable hearing solutions for children and adults worldwide.

Guobo Electronics

Market Cap: CN¥85.8b

Engages in the research and development, production, and sale of active phased array transmitter and receiver components and radio frequency integrated circuit related products in China.

CP ALL

Market Cap: ฿381.0b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Fresenius Medical Care

Market Cap: €10.4b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Hong Leong Bank Berhad

Market Cap: RM 49.2b

Operates as a financial services company in Malaysia and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥85.5b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Suncorp Group

Market Cap: AU$17.8b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

GD Power DevelopmentLtd

Market Cap: CN¥85.1b

Operates as a power generation company in China.

Saputo

Market Cap: CA$16.7b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, Argentina, and the United Kingdom.

Comerica

Market Cap: US$12.2b

Provides financial services in the United States, Canada, and Mexico.

Guangdong Haid Group

Market Cap: CN¥84.6b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Technoprobe

Market Cap: €10.3b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Align Technology

Market Cap: US$12.1b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

SinoPac Financial Holdings

Market Cap: NT$380.4b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

Phoenix Financial

Market Cap: ₪38.0b

Provides multi-line insurance products in Israel.

Piraeus Bank

Market Cap: €10.2b

Provides banking products and services in Greece and internationally.

CPFL Energia

Market Cap: R$63.4b

Through its subsidiaries, operates as an energy company in Brazil.

mBank

Market Cap: zł42.6b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

First Horizon

Market Cap: US$11.9b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

True Corporation

Market Cap: ฿369.7b

Provides telecommunications and value-added services in Thailand.

China Jushi

Market Cap: CN¥83.1b

Engages in the manufacture and sale of fiberglass and related products in China and internationally.

Insurance Australia Group

Market Cap: AU$17.3b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥82.9b

Beijing E-Town Semiconductor Technology Co., Ltd.

Arab National Bank

Market Cap: ر.س44.6b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Assurant

Market Cap: US$11.9b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Banque Saudi Fransi

Market Cap: ر.س44.5b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$372.4b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

SCREEN Holdings

Market Cap: JP¥1.8t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Italgas

Market Cap: €10.0b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

T&D Holdings

Market Cap: JP¥1.8t

Through its subsidiaries, provides insurance products and services in Japan.

Shanghai Rural Commercial Bank

Market Cap: CN¥81.9b

Engages in commercial banking business in China.

Vodafone Idea

Market Cap: ₹1.1t

Provides mobile telecommunication services in India.