Ivorian Software Defensive Blue Chips

Wilmar International

Market Cap: S$20.2b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

Punjab National Bank

Market Cap: ₹1.4t

Provides various banking and financial products and services in India and internationally.

Britannia Industries

Market Cap: ₹1.4t

Manufactures and sells various food products in India and internationally.

National Bank of Greece

Market Cap: €13.3b

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom.

Shanghai United Imaging Healthcare

Market Cap: CN¥108.3b

Shanghai United Imaging Healthcare Co., Ltd.

Grupo Financiero Inbursa. de

Market Cap: Mex$270.4b

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

Santander Bank Polska

Market Cap: zł55.6b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

East West Bancorp

Market Cap: US$15.4b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$2.0b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥107.2b

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

Hippo Valley Estates

Market Cap: US$2.0b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Canara Bank

Market Cap: ₹1.4t

Provides various banking products and services in India and internationally.

Banco Comercial Português

Market Cap: €13.1b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Huaneng Power International

Market Cap: HK$119.2b

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

SDIC Power Holdings

Market Cap: CN¥106.5b

Engages in the electricity generation business in China.

Xi'an ESWIN Material Technology

Market Cap: CN¥106.4b

Xi'an ESWIN Material Technology Co., Ltd.

Asahi Group Holdings

Market Cap: JP¥2.4t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Tryg

Market Cap: DKK 96.9b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

Metro

Market Cap: CA$20.9b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Bank Polska Kasa Opieki

Market Cap: zł54.4b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Jerónimo Martins SGPS

Market Cap: €12.8b

Operates in the food distribution and specialized retail sectors in Portugal, Poland, Colombia, and internationally.

Erie Indemnity

Market Cap: US$15.0b

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

Wens Foodstuff Group

Market Cap: CN¥104.5b

Operates as an agricultural and animal husbandry company in China.

Bankinter

Market Cap: €12.8b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Performance Food Group

Market Cap: US$15.0b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

Aier Eye Hospital Group

Market Cap: CN¥103.9b

Operates as a ophthalmology chain medical company in China, Hong Kong, Europe, the United States, and Southeast Asia.

Winbond Electronics

Market Cap: NT$470.3b

Engages in the design, development, manufacture, and marketing of very large scale integration integrated circuits (ICs) for various microelectronic applications in Asia, the Americas, Europe, and internationally.

SCB X

Market Cap: ฿464.7b

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

Telecom Italia

Market Cap: €12.7b

Engages in the fixed and mobile telecommunications services in Italy and internationally.

Ambuja Cements

Market Cap: ₹1.4t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Hua Xia Bank

Market Cap: CN¥102.5b

Provides commercial banking services in China and Hong Kong.

Piotech

Market Cap: CN¥102.3b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Turkiye Garanti Bankasi

Market Cap: ₺634.2b

Provides various banking products and services in Turkey.

Pinnacle Financial Partners

Market Cap: US$14.6b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.

Hua Nan Financial Holdings

Market Cap: NT$462.7b

Provides financial services in Taiwan and internationally.

Celsius Holdings

Market Cap: US$14.6b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.