Belgian Utilities Defensive Blue Chips

Bank of Baroda

Market Cap: ₹1.3t

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

Britannia Industries

Market Cap: ₹1.3t

Manufactures and sells various food products in India and internationally.

HANMI Semiconductor

Market Cap: ₩19.7t

Manufactures and sells semiconductor equipment in South Korea and internationally.

Kinsus Interconnect Technology

Market Cap: NT$424.2b

Engages in the manufacture and sale of electronic products in Taiwan and internationally.

Piraeus Bank

Market Cap: €11.5b

Provides various banking products and services in Greece, Europe, and internationally.

Banque Cantonale Vaudoise

Market Cap: CHF 10.6b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Wens Foodstuff Group

Market Cap: CN¥88.8b

Engages in the agricultural and animal husbandry businesses in China and internationally.

LONGi Green Energy Technology

Market Cap: CN¥88.7b

Manufactures and sells monocrystalline silicon wafers, solar modules, and green hydrogen equipment in China, Europe, the Asia Pacific, and the United States.

Yokohama Financial Group

Market Cap: JP¥2.1t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Caixa Seguridade Participações

Market Cap: R$66.3b

Provides insurance products in Brazil and internationally.

Align Technology

Market Cap: US$12.9b

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

Erie Indemnity

Market Cap: US$12.9b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Fresenius Medical Care

Market Cap: €11.3b

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

iA Financial

Market Cap: CA$18.0b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Dangote Cement

Market Cap: ₦17.5t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Anhui Conch Cement

Market Cap: CN¥85.7b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Molina Healthcare

Market Cap: US$12.7b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Konfoong Materials International

Market Cap: CN¥85.6b

Konfoong Materials International Co., Ltd.

Banque Saudi Fransi

Market Cap: ر.س47.4b

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

Osaka Gas

Market Cap: JP¥2.0t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Tianshui Huatian Technology

Market Cap: CN¥85.3b

Engages in research, development, production, packaging, testing, and sales of semiconductor integrated circuits in China and internationally.

Origin Energy

Market Cap: AU$18.0b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Smith & Nephew

Market Cap: UK£9.4b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Eastroc Beverage (Group)

Market Cap: CN¥85.0b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Punjab National Bank

Market Cap: ₹1.2t

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

Penumbra

Market Cap: US$12.5b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Etihad Etisalat

Market Cap: ر.س47.0b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

MTN Nigeria Communications

Market Cap: ₦17.2t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Almarai

Market Cap: ر.س46.6b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

ROHM

Market Cap: JP¥2.0t

Manufactures and sells electronic components worldwide.

Webster Financial

Market Cap: US$12.3b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Israel Discount Bank

Market Cap: ₪37.1b

Provides various banking and financial services in Israel, Europe, and North America.

Semtech

Market Cap: US$12.3b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Tele2

Market Cap: SEK 118.9b

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

CP ALL

Market Cap: ฿412.2b

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