Chinese Materials Defensive Blue Chips

Industrial Bank

Market Cap: CN¥393.6b

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

Saudi Telecom

Market Cap: ر.س218.0b

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

Crédit Agricole

Market Cap: €50.0b

Provides retail and corporate banking, insurance, and investment banking products and services in France, Italy, rest of the European Union, rest of Europe, North America, Central and South America, Africa, the Middle East, the Asia Pacific, and Japan.

Standard Chartered

Market Cap: UK£42.2b

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

Target

Market Cap: US$56.3b

Operates as a general merchandise retailer in the United States.

National Bank of Canada

Market Cap: CA$78.4b

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

E.ON

Market Cap: €47.9b

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

HOYA

Market Cap: JP¥8.8t

A med-tech company, provides high-tech and medical products internationally.

Singapore Telecommunications

Market Cap: S$70.4b

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

Astera Labs

Market Cap: US$54.3b

Designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure in Taiwan and the United States.

Allstate

Market Cap: US$54.3b

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

FBC Holdings

Market Cap: US$7.0b

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

Arthur J. Gallagher

Market Cap: US$54.2b

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

MetLife

Market Cap: US$53.7b

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

Orange

Market Cap: €46.4b

Operates as a telecommunications operator in France and internationally.

Life Insurance Corporation of India

Market Cap: ₹5.1t

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

Alimentation Couche-Tard

Market Cap: CA$74.2b

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

Loblaw Companies

Market Cap: CA$73.4b

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.

Cencora

Market Cap: US$52.6b

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

United Microelectronics

Market Cap: NT$1.7t

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

Fubon Financial Holding

Market Cap: NT$1.7t

Provides various financial products and services in Taiwan, Asia, and internationally.

Microchip Technology

Market Cap: US$52.2b

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

Vistra

Market Cap: US$51.8b

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

Renesas Electronics

Market Cap: JP¥8.3t

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

Great-West Lifeco

Market Cap: CA$72.2b

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

Holcim

Market Cap: CHF 41.2b

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

KBC Group

Market Cap: €44.7b

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

GigaDevice Semiconductor

Market Cap: CN¥346.4b

Engages in the research, development, technical support, and sale of memory, microcontrollers, sensors, and analog chips.

Wal-Mart de México. de

Market Cap: Mex$887.6b

Owns and operates self-service stores in Mexico and Central America.

Edwards Lifesciences

Market Cap: US$50.4b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally.

Entergy

Market Cap: US$50.0b

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

United Overseas Bank

Market Cap: S$63.7b

Provides banking products and services worldwide.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

First Abu Dhabi Bank P.J.S.C

Market Cap: د.إ181.2b

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

Disco

Market Cap: JP¥7.9t

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

ASM International

Market Cap: €42.4b

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.