Brazilian Software Defensive Blue Chips

KeyCorp

Market Cap: US$24.6b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

China Unicom (Hong Kong)

Market Cap: HK$191.9b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Public Bank Berhad

Market Cap: RM 99.2b

Provides banking products and services.

Unipol Assicurazioni

Market Cap: €21.0b

Provides insurance products and services primarily in Italy.

Principal Financial Group

Market Cap: US$24.2b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

ACM Research (Shanghai)

Market Cap: CN¥162.7b

Engages in the research, development, production, and sale of semiconductor equipment in China.

QBE Insurance Group

Market Cap: AU$33.8b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Raiffeisen Bank International

Market Cap: €20.6b

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

New China Life Insurance

Market Cap: CN¥160.9b

Provides life insurance products and services to individuals and institutions in China.

Terumo

Market Cap: JP¥3.8t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Sigma Healthcare

Market Cap: AU$33.4b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

BNP Paribas Fortis

Market Cap: €20.5b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Jentech Precision Industrial

Market Cap: NT$755.7b

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

NN Group

Market Cap: €20.4b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥159.1b

Inner Mongolia Yili Industrial Group Co., Ltd.

US Foods Holding

Market Cap: US$23.5b

US Foods Holding Corp., together with its subsidiaries, markets, sells, and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Aeon

Market Cap: JP¥3.7t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

First Solar

Market Cap: US$23.4b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ85.6b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

Technoprobe

Market Cap: €20.1b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Global Unichip

Market Cap: NT$741.8b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Brown & Brown

Market Cap: US$23.0b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

Loews

Market Cap: US$23.0b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

VERBUND

Market Cap: €19.8b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Coca-Cola FEMSA. de

Market Cap: US$22.8b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademarked beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

JCET Group

Market Cap: CN¥152.9b

Provides integrated-circuit back-end and technology services in China, South Korea, the United States, and internationally.

Terna

Market Cap: €19.6b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

STERIS

Market Cap: US$22.4b

Provides infection prevention products and services in the United States, Ireland, and internationally.

Coca-Cola HBC

Market Cap: UK£16.5b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Constellation Brands

Market Cap: US$22.3b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Markel Group

Market Cap: US$22.3b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

BE Semiconductor Industries

Market Cap: €19.2b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

ASPEED Technology

Market Cap: NT$709.2b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

QNB Bank

Market Cap: ₺1.1t

Provides various banking and financial services in Turkey.

Bunge Global

Market Cap: US$22.1b

Operates as an agribusiness and food company worldwide.

Uniper

Market Cap: €19.0b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.