Chinese Software Defensive Blue Chips

Saudi Electricity

Market Cap: ر.س61.2b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Fortum Oyj

Market Cap: €14.0b

Engages in the generation and sale of electricity and heat in Finland, Sweden, the Netherlands, Ireland, Denmark, Belgium, the United Kingdom, Switzerland, Spain, France, Germany, Norway, and internationally.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

James Hardie Industries

Market Cap: AU$24.5b

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

Britannia Industries

Market Cap: ₹1.4t

Manufactures and sells various food products in India and internationally.

Uni-President Enterprises

Market Cap: NT$469.9b

Manufactures and sells beverage, food, animal feed, and wheat flour in Taiwan and internationally.

Hormel Foods

Market Cap: US$15.8b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Ryan Specialty Holdings

Market Cap: US$15.7b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, and Singapore.

Fidelity National Financial

Market Cap: US$15.7b

Provides various insurance products in the United States.

Shanghai United Imaging Healthcare

Market Cap: CN¥112.4b

Shanghai United Imaging Healthcare Co., Ltd.

Performance Food Group

Market Cap: US$15.6b

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

Jerónimo Martins SGPS

Market Cap: €13.5b

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

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

Market Cap: ر.ق56.2b

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

Sprouts Farmers Market

Market Cap: US$15.4b

Engages in the retailing of fresh, natural, and organic food products in the United States.

Fresenius Medical Care

Market Cap: €13.3b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Bunge Global

Market Cap: US$15.3b

Operates as an agribusiness and food company worldwide.

JBS

Market Cap: US$15.0b

Operates as a protein and food company worldwide.

Vodacom Group

Market Cap: R268.5b

Provides communications products and services.

Align Technology

Market Cap: US$14.9b

Designs, manufactures, and markets Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Huaneng Power International

Market Cap: HK$117.1b

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

Santander Bank Polska

Market Cap: zł54.7b

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

Baxter International

Market Cap: US$14.8b

Through its subsidiaries, provides a portfolio of healthcare products in the United States.

MTN Group

Market Cap: R263.5b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

Budweiser Brewing Company APAC

Market Cap: HK$115.7b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, and internationally.

Hologic

Market Cap: US$14.7b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

Cooper Companies

Market Cap: US$14.7b

Develops, manufactures, and markets contact lens wearers.

Tryg

Market Cap: DKK 94.9b

Provides insurance products and services for private and corporate customers, and small and medium-sized businesses in Denmark, Sweden, the United Kingdom, and Norway.

Tata Power

Market Cap: ₹1.3t

Engages in the generation, transmission, distribution, and trading of electricity in India and internationally.

Wilmar International

Market Cap: S$18.9b

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

Suncorp Group

Market Cap: AU$22.5b

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

Powszechny Zaklad Ubezpieczen

Market Cap: zł53.9b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Teradyne

Market Cap: US$14.5b

Designs, develops, manufactures, and sells automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Tenet Healthcare

Market Cap: US$14.5b

Operates as a diversified healthcare services company in the United States.

Mashreqbank PSC

Market Cap: د.إ53.2b

Provides various banking and financial services to individuals and corporates.

Unipol Assicurazioni

Market Cap: €12.5b

Provides insurance products and services primarily in Italy.

Telia Company

Market Cap: SEK 139.0b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.