Brazilian Software Defensive Blue Chips

T&D Holdings

Market Cap: JP¥1.9t

Through its subsidiaries, provides insurance products and services in Japan.

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.

Almarai

Market Cap: ر.س43.7b

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

China Zheshang Bank

Market Cap: HK$90.9b

Provides various commercial banking products and services in Mainland China.

Industrial Bank of Korea

Market Cap: ₩17.5t

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

Ensign Group

Market Cap: US$11.6b

Provides skilled nursing, senior living, and rehabilitative services.

Harel Insurance Investments & Financial Services

Market Cap: ₪36.6b

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

Mowi

Market Cap: NOK 112.5b

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

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥79.6b

Researches and develops, produces, and sells integrated circuit equipment and high-frequency communication materials in China and internationally.

Great Eastern Holdings

Market Cap: S$14.9b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Absa Group

Market Cap: R196.8b

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

Mashreqbank PSC

Market Cap: د.إ42.1b

Provides various banking and financial services to individuals and corporates.

Arab National Bank

Market Cap: ر.س42.8b

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.

Taiwan Cooperative Financial Holding

Market Cap: NT$363.8b

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

Globus Medical

Market Cap: US$11.3b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Apollo Hospitals Enterprise

Market Cap: ₹1.1t

Provides healthcare services in India.

Universal Health Services

Market Cap: US$11.2b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities in the United States.

Manila Electric

Market Cap: ₱680.8b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Chongqing Rural Commercial Bank

Market Cap: HK$87.4b

Provides banking and related financial services in the People’s Republic of China.

Hong Leong Bank Berhad

Market Cap: RM 44.9b

Operates as a financial services company in Malaysia and internationally.

Jiangsu Yanghe Distillery

Market Cap: CN¥77.0b

Offers liquors and wines.

BAWAG Group

Market Cap: €9.7b

Operates as a holding company for BAWAG P.S.K.

MPI

Market Cap: NT$354.6b

Manufactures, processes, maintains, imports/exports, and trades in semi-conductor production process and testing equipment in Taiwan, China, Singapore, Korea, the United States, and internationally.

SK Telecom

Market Cap: ₩16.7t

Engages in the provision of wireless telecommunication services in South Korea.

Amkor Technology

Market Cap: US$11.0b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Webster Financial

Market Cap: US$11.0b

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.

Phison Electronics

Market Cap: NT$349.8b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

MTN Nigeria Communications

Market Cap: ₦15.1t

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

AltaGas

Market Cap: CA$15.1b

Operates as an energy infrastructure company in North America.

Sanlam

Market Cap: R185.9b

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

Ooredoo Q.P.S.C

Market Cap: ر.ق39.4b

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

SCREEN Holdings

Market Cap: JP¥1.7t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Bank Albilad

Market Cap: ر.س40.3b

Through its subsidiaries, provides various banking products and services in the Kingdom of Saudi Arabia.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥74.1b

Engages in the generation and sale of electricity in China.

Zhejiang Zheneng Electric Power

Market Cap: CN¥73.7b

Zhejiang Zheneng Electric Power Co., Ltd.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥73.7b

Engages in the clean energy business in China.