Belgian Telecom Defensive Blue Chips

China Resources Power Holdings

Market Cap: HK$96.7b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

BJ's Wholesale Club Holdings

Market Cap: US$12.3b

Operates membership warehouse clubs on the eastern half of the United States.

Nexchip Semiconductor

Market Cap: CN¥83.1b

Engages in the research, development, production, and sale of integrated circuit related products in China and internationally.

GAIL (India)

Market Cap: ₹1.2t

Operates as a natural gas processing and distribution company in India and internationally.

Kokusai Electric

Market Cap: JP¥1.9t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

First Horizon

Market Cap: US$12.1b

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

American Financial Group

Market Cap: US$12.1b

An insurance holding company, provides property and casualty insurance products in the United States.

Tele2

Market Cap: SEK 113.9b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Harel Insurance Investments & Financial Services

Market Cap: ₪35.9b

Offers insurance and financial services in Israel, Europe, and internationally.

Aier Eye Hospital Group

Market Cap: CN¥80.9b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

Shanghai Rural Commercial Bank

Market Cap: CN¥80.6b

Engages in commercial banking business in China.

Realtek Semiconductor

Market Cap: NT$383.5b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Alpha Bank

Market Cap: €10.3b

Provides various banking and financial products and services in Greece and internationally.

Absa Group

Market Cap: R191.5b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Magnum Ice Cream

Market Cap: €10.2b

Engages in the ice cream business in the Netherlands.

Marico

Market Cap: ₹1.1t

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥79.2b

Beijing Huafeng Test & Control Technology Co.,Ltd.

DaVita

Market Cap: US$11.7b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Japan Post Insurance

Market Cap: JP¥1.8t

Engages in the provision of life insurance products and services in Japan.

Chiba Bank

Market Cap: JP¥1.8t

Provides banking products and services in Japan and internationally.

Arab National Bank

Market Cap: ر.س43.8b

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.

Maplebear

Market Cap: US$11.6b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

Guangdong Haid Group

Market Cap: CN¥78.1b

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

Sanlam

Market Cap: R186.4b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

China Resources Microelectronics

Market Cap: CN¥77.7b

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

SD Guthrie Berhad

Market Cap: RM 46.9b

Operates as an integrated plantations company in Malaysia and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.5b

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

Marks and Spencer Group

Market Cap: UK£8.5b

Operates various retail stores.

Industrial Bank of Korea

Market Cap: ₩16.2t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Far EasTone Telecommunications

Market Cap: NT$367.9b

Provides mobile telecommunications services in Taiwan and internationally.

Beijing YanDong MicroElectronic

Market Cap: CN¥76.9b

Beijing YanDong MicroElectronic Co., Ltd.

Caixa Seguridade Participações

Market Cap: R$58.0b

Provides insurance products in Brazil and internationally.

Ambuja Cements

Market Cap: ₹1.1t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

United Spirits

Market Cap: ₹1.1t

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥76.5b

Beijing E-Town Semiconductor Technology Co., Ltd.

Lotus Bakeries

Market Cap: €9.8b

Provides various snack products in Belgium and internationally.