Brazilian Capital Goods Defensive Blue Chips

China Resources Beer (Holdings)

Market Cap: HK$89.0b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Skyworks Solutions

Market Cap: US$11.4b

Designs, develops, manufactures, and markets semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ41.7b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Chandra Daya Investasi

Market Cap: Rp188.7t

Operates as an infrastructure investment holding company.

Mowi

Market Cap: NOK 111.5b

A seafood company, produces and sells Atlantic salmon products worldwide.

BKW

Market Cap: CHF 8.9b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

HKT Trust and HKT

Market Cap: HK$87.3b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Baloise Holding

Market Cap: CHF 8.9b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

Rambus

Market Cap: US$11.2b

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

IDBI Bank

Market Cap: ₹993.0b

Provides banking and financial solutions to retail and corporate customers in India.

Indian Bank

Market Cap: ₹992.8b

Provides various banking products and services.

Osaka Gas

Market Cap: JP¥1.6t

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

James Hardie Industries

Market Cap: AU$16.9b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Acciona

Market Cap: €9.5b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥79.2b

Beijing E-Town Semiconductor Technology Co., Ltd.

JCET Group

Market Cap: CN¥78.9b

Provides integrated-circuit manufacturing and technology services in China and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥78.9b

Provides a range of banking products and services to individual and corporate customers in China.

Raiffeisen Bank International

Market Cap: €9.4b

Offers banking services to corporate, private, and institutional customers.

Tsingtao Brewery

Market Cap: CN¥78.5b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م99.8b

Provides various telecommunication solutions in Morocco and internationally.

China Zheshang Bank

Market Cap: HK$85.5b

Provides various commercial banking products and services in Mainland China.

Industrial Bank of Korea

Market Cap: ₩15.3t

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

Assurant

Market Cap: US$10.9b

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

Piraeus Financial Holdings

Market Cap: €9.3b

Provides banking products and services in Greece and internationally.

Anhui Gujing Distillery

Market Cap: CN¥77.5b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Enel Américas

Market Cap: CL$10.4t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

SinoPac Financial Holdings

Market Cap: NT$328.8b

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

Waaree Energies

Market Cap: ₹958.4b

Manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.

ING Bank Slaski

Market Cap: zł39.2b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Taiwan Mobile

Market Cap: NT$328.2b

Provides wireless communication services in Taiwan, the Republic of China, and internationally.

United Spirits

Market Cap: ₹956.2b

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

Centrica

Market Cap: UK£8.0b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫281.6t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

Unigroup Guoxin Microelectronics

Market Cap: CN¥76.1b

Unigroup Guoxin Microelectronics Co., Ltd.

ICICI Lombard General Insurance

Market Cap: ₹947.0b

Provides various general insurance products and services in India.

Sanan OptoelectronicsLtd

Market Cap: CN¥75.8b

Engages in the research, development, production, and sale of LED epitaxial wafers and chips, compound semiconductors, semiconductor and communication chips, and sapphire substrates in China and internationally.