Brazilian Consumer Durables Defensive Blue Chips

Hormel Foods

Market Cap: US$12.4b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Alibaba Health Information Technology

Market Cap: HK$96.4b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

ING Bank Slaski

Market Cap: zł45.2b

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

S.P.E.E.H. Hidroelectrica

Market Cap: RON 54.2b

Produces and supplies hydro, wind, and energy electricity in Romania.

Reinsurance Group of America

Market Cap: US$12.3b

Provides reinsurance and financial solutions.

Fisher & Paykel Healthcare

Market Cap: NZ$21.9b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Banco de Crédito e Inversiones

Market Cap: CL$11.5t

Provides various banking products and services in Chile, United States, and Peru.

CP ALL

Market Cap: ฿394.3b

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

Vodafone Idea

Market Cap: ₹1.1t

Provides mobile telecommunication services in India.

IDBI Bank

Market Cap: ₹1.1t

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

True Corporation

Market Cap: ฿393.9b

Provides telecommunications and value-added services in Thailand.

Shanghai Rural Commercial Bank

Market Cap: CN¥86.1b

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

Aegon

Market Cap: €10.5b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

Almarai

Market Cap: ر.س45.5b

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

BB Seguridade Participações

Market Cap: R$65.1b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Taiwan Cooperative Financial Holding

Market Cap: NT$374.0b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

Apollo Hospitals Enterprise

Market Cap: ₹1.1t

Provides healthcare services in India.

Krung Thai Bank

Market Cap: ฿380.8b

Engages in commercial banking business in Thailand and internationally.

Jentech Precision Industrial

Market Cap: NT$370.9b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Globus Medical

Market Cap: US$11.8b

A medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

BDO Unibank

Market Cap: ₱691.8b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

RenaissanceRe Holdings

Market Cap: US$11.8b

Provides reinsurance and insurance products in the United States and internationally.

Insurance Australia Group

Market Cap: AU$18.2b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ43.1b

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

mBank

Market Cap: zł42.9b

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

Arab National Bank

Market Cap: ر.س43.9b

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.

Penumbra

Market Cap: US$11.7b

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

Cochlear

Market Cap: AU$18.0b

Provides implantable hearing solutions for children and adults worldwide.

BJ's Wholesale Club Holdings

Market Cap: US$11.6b

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

Baloise Holding

Market Cap: CHF 9.4b

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

China Zheshang Bank

Market Cap: HK$89.3b

Provides various commercial banking products and services in Mainland China.

China Resources Beer (Holdings)

Market Cap: HK$89.3b

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

Piotech

Market Cap: CN¥81.3b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Chubu Electric Power Company

Market Cap: JP¥1.8t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

HKT Trust and HKT

Market Cap: HK$88.7b

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.