Swiss Consumer Durables Defensive Blue Chips

Nongfu Spring

Market Cap: HK$470.8b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Truist Financial

Market Cap: US$60.0b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

ASM International

Market Cap: €52.3b

Engages in the research, development, manufacturing, marketing, and servicing of equipment and materials used to produce semiconductor devices in the United States, Europe, and Asia.

National Bank of Canada

Market Cap: CA$84.9b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Saudi Telecom

Market Cap: ر.س222.8b

Provides telecommunications, information, media, and digital payment services in the Kingdom of Saudi Arabia and internationally.

Standard Chartered

Market Cap: UK£44.8b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.

Aflac

Market Cap: US$59.2b

Through its subsidiaries, provides supplemental health and life insurance products.

Life Insurance Corporation of India

Market Cap: ₹5.6t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Sempra

Market Cap: US$59.0b

Engages in the regulated utilities business in the United States and Mexico.

Samsung Life Insurance

Market Cap: ₩89.2t

Engages in the life insurance business to corporate and individual customers in South Korea and internationally.

Target

Market Cap: US$58.1b

Operates as a general merchandise retailer in the United States.

United Microelectronics

Market Cap: NT$1.8t

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

China CITIC Bank

Market Cap: CN¥389.7b

Provides various banking products and services in the People’s Republic of China and internationally.

Disco

Market Cap: JP¥9.2t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Allstate

Market Cap: US$57.1b

Provides property and casualty, and other insurance products in the United States and Canada.

Great-West Lifeco

Market Cap: CA$80.6b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

HOYA

Market Cap: JP¥9.1t

A med-tech company, provides high-tech and medical products in the Japan, Asia, the Americas, Europe, and internationally.

Arthur J. Gallagher

Market Cap: US$55.5b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Singapore Telecommunications

Market Cap: S$71.4b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.

MetLife

Market Cap: US$55.2b

A financial services company, provides insurance, annuities, employee benefits, and asset management services worldwide.

E.ON

Market Cap: €47.5b

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

First Abu Dhabi Bank P.J.S.C

Market Cap: د.إ199.5b

Provides various banking products and services in the United Arab Emirates, Europe, Arab countries, the Americas, Asia, and internationally.

Industrial Bank

Market Cap: CN¥366.5b

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

KBC Group

Market Cap: €47.2b

Provides banking, insurance, and asset management services in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Microchip Technology

Market Cap: US$54.1b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Cencora

Market Cap: US$53.9b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

Vistra

Market Cap: US$53.6b

Operates as an integrated retail electricity and power generation company in the United States.

Cathay Financial Holding

Market Cap: NT$1.7t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Alimentation Couche-Tard

Market Cap: CA$75.7b

Operates and licenses convenience stores in North America, Europe, and Asia.

Emirates NBD Bank PJSC

Market Cap: د.إ195.7b

Engages in the provision of corporate, institutional, retail, treasury, and Islamic banking services.

Renesas Electronics

Market Cap: JP¥8.6t

Engages in the design, research, development, manufacturing, sale, and service of semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

Holcim

Market Cap: CHF 42.8b

Provides building materials and solutions in Europe, Latin America, and Asia, Middle East, and Africa.

Cardinal Health

Market Cap: US$53.0b

Operates as a healthcare services and products company in the United States and internationally.

Loblaw Companies

Market Cap: CA$75.1b

A food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services in Canada and the United States.

FBC Holdings

Market Cap: US$6.7b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Orange

Market Cap: €45.2b

Operates as a telecommunications operator in France and internationally.