Belgian Telecom Defensive Blue Chips

Erste Bank Polska

Market Cap: zł62.3b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Elia Group

Market Cap: €14.7b

Develops and operates as a transmission system operator in Belgium and Germany.

Amkor Technology

Market Cap: US$16.9b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Zimmer Biomet Holdings

Market Cap: US$16.9b

Operates as a medical technology company worldwide.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$131.1b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

Eurobank

Market Cap: €14.4b

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

Phison Electronics

Market Cap: NT$521.8b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Rambus

Market Cap: US$16.4b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Wilmar International

Market Cap: S$21.2b

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

Banco de Sabadell

Market Cap: €14.1b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

Hua Xia Bank

Market Cap: CN¥109.5b

Provides commercial banking services in China and Hong Kong.

Nova

Market Cap: US$16.1b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

SDIC Power Holdings

Market Cap: CN¥109.1b

Engages in the electricity generation business in China.

Bank of Beijing

Market Cap: CN¥108.7b

Provides various banking services to individuals and corporates in China.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, gas and heat supply, and telecommunication and gas supply in Japan.

Suzhou Centec Communications

Market Cap: CN¥107.1b

Engages in the research and development of ethernet switch chips and supporting products in China and internationally.

Banco Comercial Português

Market Cap: €13.6b

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

SinoPac Financial Holdings

Market Cap: NT$496.4b

Through its subsidiaries, provides banking services worldwide.

Hua Nan Financial Holdings

Market Cap: NT$493.4b

Provides financial services in Taiwan and internationally.

KGI Financial Holding

Market Cap: NT$493.1b

Operates as a financial company in Taiwan and internationally.

National Silicon Industry Group

Market Cap: CN¥104.9b

National Silicon Industry Group Co., Ltd.

ING Bank Slaski

Market Cap: zł56.7b

Provides various banking products and services for retail clients and businesses in Poland.

Performance Food Group

Market Cap: US$15.3b

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

Sonova Holding

Market Cap: CHF 12.2b

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.

National Bank of Greece

Market Cap: €13.2b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Power Assets Holdings

Market Cap: HK$119.2b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

JD Health International

Market Cap: HK$118.7b

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

FinecoBank Banca Fineco

Market Cap: €13.1b

Provides banking, credit, trading and investment services in Italy.

SK Telecom

Market Cap: ₩23.0t

Engages in the provision of wireless telecommunication services in South Korea.

Powszechny Zaklad Ubezpieczen

Market Cap: zł55.4b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

African Distillers

Market Cap: US$1.9b

Manufactures, distributes, and markets wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

ASR Nederland

Market Cap: €13.0b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

mBank

Market Cap: zł55.0b

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

Krung Thai Bank

Market Cap: ฿489.2b

Engages in commercial banking business in Thailand and internationally.

Bank of Baroda

Market Cap: ₹1.4t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.