Brazilian Utilities Defensive Blue Chips

Uni-President Enterprises

Market Cap: NT$419.9b

Engages in the manufacture and sale of beverages and instant noodles in Taiwan, China, and Southeast Asia.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥87.3b

Engages in the generation and sale of electricity in China.

Carrefour

Market Cap: €11.2b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

HKT Trust and HKT

Market Cap: HK$101.3b

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.

Chubu Electric Power Company

Market Cap: JP¥2.0t

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

Taiwan Cooperative Financial Holding

Market Cap: NT$416.3b

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

Yokohama Financial Group

Market Cap: JP¥2.0t

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

Brown-Forman

Market Cap: US$12.8b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Israel Discount Bank

Market Cap: ₪38.9b

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

Jerónimo Martins SGPS

Market Cap: €11.1b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Almarai

Market Cap: ر.س47.9b

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

KT&G

Market Cap: ₩18.2t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Penumbra

Market Cap: US$12.7b

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

Dangote Cement

Market Cap: ₦17.3t

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

Pro Medicus

Market Cap: AU$18.1b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

Etihad Etisalat

Market Cap: ر.س47.7b

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

BrightSpring Health Services

Market Cap: US$12.7b

Operates as a home and community-based healthcare services platform in the United States.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

China Resources Power Holdings

Market Cap: HK$99.1b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Amkor Technology

Market Cap: US$12.6b

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

Webster Financial

Market Cap: US$12.6b

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.

J. M. Smucker

Market Cap: US$12.6b

Manufactures and markets branded food and beverage products worldwide.

Nova

Market Cap: US$12.5b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥84.4b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Kinsus Interconnect Technology

Market Cap: NT$404.1b

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

Phison Electronics

Market Cap: NT$402.4b

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

BJ's Wholesale Club Holdings

Market Cap: US$12.4b

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

Erie Indemnity

Market Cap: US$12.4b

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

Align Technology

Market Cap: US$12.4b

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

Aier Eye Hospital Group

Market Cap: CN¥82.9b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

First Horizon

Market Cap: US$12.2b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Shanghai Rural Commercial Bank

Market Cap: CN¥82.7b

Engages in commercial banking business in China.

Shenzhen Techwinsemi Technology

Market Cap: CN¥82.6b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

HDFC Life Insurance

Market Cap: ₹1.2t

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

Olympus

Market Cap: JP¥1.9t

Engages in the manufacture and sale of medical equipment in Japan, America, the Middle East, Asia, and Oceania.

Tele2

Market Cap: SEK 116.5b

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