Swiss Utilities Defensive Blue Chips

Huaneng Power International

Market Cap: HK$121.8b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China, the Islamic Republic of Pakistan, and internationally.

Admiral Group

Market Cap: UK£11.5b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

SCB X

Market Cap: ฿516.9b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Banco de Crédito e Inversiones

Market Cap: CL$14.4t

Provides various banking products and services in Chile, the United States, and Peru.

Asahi Group Holdings

Market Cap: JP¥2.4t

Engages in the manufacture and sale of beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

ING Bank Slaski

Market Cap: zł57.6b

Provides various banking products and services for retail clients and businesses in Poland.

Grupo Financiero Inbursa. de

Market Cap: Mex$267.1b

Provides various financial products and services to individuals and businesses in Mexico.

mBank

Market Cap: zł57.5b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

DaVita

Market Cap: US$15.3b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

James Hardie Industries

Market Cap: AU$21.9b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Enpara Bank

Market Cap: ₺723.6b

Provides banking services and products in Turkey.

BrightSpring Health Services

Market Cap: US$15.2b

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

T&D Holdings

Market Cap: JP¥2.4t

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

Kerry Group

Market Cap: €13.1b

Provides taste and nutrition solutions.

Public Power

Market Cap: €13.1b

Generates, transmits, and distributes electricity in Greece, Romania, Bulgaria, and North Macedonia.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp270.1t

Provides information and communications technology, and telecommunications network services worldwide.

Grupo Bimbo. de

Market Cap: Mex$260.8b

Produces, distributes, and markets bakery products.

Rede D'Or São Luiz

Market Cap: R$76.2b

Engages in the provision of hospital services in Brazil.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ55.0b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Coloplast

Market Cap: DKK 96.7b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

SCREEN Holdings

Market Cap: JP¥2.3t

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

LONGi Green Energy Technology

Market Cap: CN¥100.4b

Manufactures and sells monocrystalline silicon wafers, solar modules, and green hydrogen equipment in China, Europe, the Asia Pacific, and the United States.

Kirin Holdings Company

Market Cap: JP¥2.3t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

Attijariwafa bank

Market Cap: د.م138.1b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Gjensidige Forsikring

Market Cap: NOK 141.1b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Mashreqbank PSC

Market Cap: د.إ54.2b

Provides various banking and financial services to individuals and corporates.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ54.1b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

Everest Group

Market Cap: US$14.5b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Xi'an ESWIN Material Technology

Market Cap: CN¥97.3b

Xi'an ESWIN Material Technology Co., Ltd.

CNA Financial

Market Cap: US$14.4b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States, Canada, the United Kingdom, Continental Europe, and internationally.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥96.8b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

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

Market Cap: ر.ق52.1b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

African Distillers

Market Cap: US$1.8b

Manufactures, distributes, and markets wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

Suncorp Group

Market Cap: AU$20.4b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Brookfield Wealth Solutions

Market Cap: US$14.2b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Phoenix Financial

Market Cap: ₪43.5b

Operates as a financial services company in Israel.