Swiss Materials Defensive Blue Chips

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.9b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Entergy

Market Cap: US$48.1b

Engages in the production and retail distribution of electricity in the United States.

Adani Power

Market Cap: ₹4.5t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Danone

Market Cap: €41.0b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

FBC Holdings

Market Cap: US$6.1b

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

Wuliangye YibinLtd

Market Cap: CN¥321.0b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

ON Semiconductor

Market Cap: US$47.4b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Cerebras Systems

Market Cap: US$46.8b

Operates as an artificial intelligence infrastructure company.

Commerzbank

Market Cap: €40.2b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Erste Group Bank

Market Cap: €39.9b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Emirates NBD Bank PJSC

Market Cap: د.إ170.2b

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

Shanghai Pudong Development Bank

Market Cap: CN¥310.1b

Provides commercial banking products and services in China and internationally.

Cardinal Health

Market Cap: US$45.7b

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

RWE

Market Cap: €39.0b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

IDEXX Laboratories

Market Cap: US$44.7b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

DNB Bank

Market Cap: NOK 413.1b

Provides financial services to individuals and businesses in Norway and internationally.

Diageo

Market Cap: UK£32.9b

Engages in the production, marketing, and distribution of alcoholic beverages in North America, Europe, the Asia Pacific, Latin America and Caribbean, and Africa.

Siemens Healthineers

Market Cap: €38.0b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

Fifth Third Bancorp

Market Cap: US$44.0b

Operates as the bank holding company for Fifth Third Bank, National Association that provides a range of financial products and services in the United States.

Endesa

Market Cap: €37.7b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

GLOBALFOUNDRIES

Market Cap: US$43.8b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Qatar National Bank (Q.P.S.C.)

Market Cap: ر.ق159.4b

Provides conventional and Islamic banking products and services in Qatar, Europe, North America, rest of GCC countries, and internationally.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ160.5b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Disco

Market Cap: JP¥7.0t

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

Swisscom

Market Cap: CHF 34.2b

Provides telecommunication services in Switzerland, Italy, and internationally.

Montage Technology

Market Cap: CN¥293.6b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and AI infrastructure in the People’s Republic of China.

China Pacific Insurance (Group)

Market Cap: CN¥293.5b

Provides insurance products to in the People’s Republic of China.

Swiss Re

Market Cap: CHF 33.7b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Moore Threads Technology

Market Cap: CN¥289.7b

Engages in the development of GPU chips and related products.

Federal National Mortgage Association

Market Cap: US$42.6b

Provides financing solutions for residential mortgages in the United States.

Danske Bank

Market Cap: DKK 268.4b

Provides various banking products and services to corporate, institutional, and international clients.

Credo Technology Group Holding

Market Cap: US$41.7b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Heineken

Market Cap: €35.7b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

Cathay Financial Holding

Market Cap: NT$1.3t

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

Nanya Technology

Market Cap: NT$1.3t

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

Telstra Group

Market Cap: AU$57.6b

Provides telecommunications and information services in Australia and internationally.