Belgian Telecom Defensive Blue Chips

VERBUND

Market Cap: €20.7b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥161.8b

Inner Mongolia Yili Industrial Group Co., Ltd.

KeyCorp

Market Cap: US$23.9b

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

MTN Group

Market Cap: R392.1b

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

CLP Holdings

Market Cap: HK$184.6b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Banco BPM

Market Cap: €20.4b

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

Terna

Market Cap: €20.3b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Banco de Crédito del Perú

Market Cap: S/79.0b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

Mediobanca Banca di Credito Finanziario

Market Cap: €20.1b

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

China Jushi

Market Cap: CN¥156.2b

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

Principal Financial Group

Market Cap: US$23.0b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Public Bank Berhad

Market Cap: RM 93.2b

Provides banking products and services.

TS Financial Holding

Market Cap: NT$718.6b

Provides various financial products and services.

Lasertec

Market Cap: JP¥3.6t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

Technoprobe

Market Cap: €19.6b

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

China Minsheng Banking

Market Cap: CN¥152.9b

Provides banking products and services in the People's Republic of China.

Markel Group

Market Cap: US$22.5b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Coles Group

Market Cap: AU$31.8b

Operates as a retailer in Australia.

Sigma Healthcare

Market Cap: AU$31.7b

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

Bank Mandiri (Persero)

Market Cap: Rp397.2t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

BIWIN Storage Technology

Market Cap: CN¥149.3b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Coca-Cola FEMSA. de

Market Cap: US$22.0b

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

Cellnex Telecom

Market Cap: €19.0b

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.

Quest Diagnostics

Market Cap: US$21.8b

Provides diagnostic testing and services in the United States.

Loews

Market Cap: US$21.8b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Uniper

Market Cap: €18.7b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

NN Group

Market Cap: €18.7b

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

China Tower

Market Cap: HK$169.6b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Telenor

Market Cap: NOK 204.6b

Operates as a telecommunication company worldwide.

Coca-Cola HBC

Market Cap: UK£16.1b

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.

Fortum Oyj

Market Cap: €18.6b

Engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally.

Labcorp Holdings

Market Cap: US$21.5b

Provides laboratory services.

Riyad Bank

Market Cap: ر.س80.6b

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

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥144.9b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Bank of Nanjing

Market Cap: CN¥144.0b

Engages in the provision of various financial products and services in China.

Terumo

Market Cap: JP¥3.4t

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