Colombian Commercial Services Defensive Blue Chips

Raiffeisen Bank International

Market Cap: €10.7b

Offers banking services to corporate, private, and institutional customers.

Reinsurance Group of America

Market Cap: US$12.3b

Provides reinsurance and financial solutions.

Kirin Holdings Company

Market Cap: JP¥1.9t

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

S.P.E.E.H. Hidroelectrica

Market Cap: RON 54.2b

Produces and supplies hydro, wind, and energy electricity in Romania.

Shanghai Rural Commercial Bank

Market Cap: CN¥87.4b

Provides a range of banking products and services to individual and corporate customers in China.

True Corporation

Market Cap: ฿397.3b

Provides telecommunications and value-added services in Thailand.

Hormel Foods

Market Cap: US$12.2b

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

Fisher & Paykel Healthcare

Market Cap: NZ$21.8b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Banco de Crédito e Inversiones

Market Cap: CL$11.3t

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

BB Seguridade Participações

Market Cap: R$64.7b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Piotech

Market Cap: CN¥86.2b

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

Jentech Precision Industrial

Market Cap: NT$379.5b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

MACOM Technology Solutions Holdings

Market Cap: US$12.1b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

RenaissanceRe Holdings

Market Cap: US$12.1b

Provides reinsurance and insurance products in the United States and internationally.

CP ALL

Market Cap: ฿392.3b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Alibaba Health Information Technology

Market Cap: HK$93.9b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

Taiwan Cooperative Financial Holding

Market Cap: NT$377.1b

Provides commercial banking, insurance, securities, bills finance, venture capital, asset management, and investment trust services in Taiwan.

BJ's Wholesale Club Holdings

Market Cap: US$12.0b

Operates membership warehouse clubs on the eastern half of the United States.

Apollo Hospitals Enterprise

Market Cap: ₹1.1t

Provides healthcare services in India.

ING Bank Slaski

Market Cap: zł44.0b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ44.0b

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

BDO Unibank

Market Cap: ₱706.7b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

mBank

Market Cap: zł43.9b

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

Aegon

Market Cap: €10.3b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Arab National Bank

Market Cap: ر.س44.4b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Krung Thai Bank

Market Cap: ฿384.3b

Engages in commercial banking business in Thailand and internationally.

BE Semiconductor Industries

Market Cap: €10.3b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

Insurance Australia Group

Market Cap: AU$18.2b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

China Resources Beer (Holdings)

Market Cap: HK$91.0b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Baloise Holding

Market Cap: CHF 9.4b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

China Zheshang Bank

Market Cap: HK$90.3b

Provides various commercial banking products and services in Mainland China.

ICICI Lombard General Insurance

Market Cap: ₹1.0t

Provides various general insurance products and services in India.

HKT Trust and HKT

Market Cap: HK$88.9b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

American Financial Group

Market Cap: US$11.4b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Manila Electric

Market Cap: ₱671.7b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.