Colombian Software Defensive Blue Chips

Etihad Etisalat

Market Cap: ر.س49.0b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

MTN Nigeria Communications

Market Cap: ₦17.8t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

HANMI Semiconductor

Market Cap: ₩19.0t

Manufactures and sells semiconductor equipment in South Korea and internationally.

KT&G

Market Cap: ₩19.0t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Semtech

Market Cap: US$12.9b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

iA Financial

Market Cap: CA$18.0b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Smith & Nephew

Market Cap: UK£9.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Israel Discount Bank

Market Cap: ₪39.0b

Provides various banking and financial services in Israel, Europe, and North America.

Origin Energy

Market Cap: AU$18.3b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.4b

Henan Shuanghui Investment & Development Co.,Ltd.

China Resources Power Holdings

Market Cap: HK$99.6b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Carrefour

Market Cap: €11.1b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

National Silicon Industry Group

Market Cap: CN¥85.3b

National Silicon Industry Group Co., Ltd.

Tokyo GasLtd

Market Cap: JP¥2.1t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Caixa Seguridade Participações

Market Cap: R$63.8b

Provides insurance products in Brazil and internationally.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Penumbra

Market Cap: US$12.5b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Phison Electronics

Market Cap: NT$403.5b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥84.3b

Engages in the generation and sale of electricity in China.

HKT Trust and HKT

Market Cap: HK$97.5b

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.

Taiwan Cooperative Financial Holding

Market Cap: NT$402.2b

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

African Distillers

Market Cap: US$1.6b

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

J. M. Smucker

Market Cap: US$12.4b

Manufactures and markets branded food and beverage products worldwide.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥83.6b

Beijing E-Town Semiconductor Technology Co., Ltd.

Almarai

Market Cap: ر.س46.2b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

CP ALL

Market Cap: ฿414.4b

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

Webster Financial

Market Cap: US$12.2b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Kokusai Electric

Market Cap: JP¥2.0t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

First Horizon

Market Cap: US$12.1b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Align Technology

Market Cap: US$12.0b

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

Jerónimo Martins SGPS

Market Cap: €10.6b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Harel Insurance Investments & Financial Services

Market Cap: ₪36.5b

Offers insurance and financial services in Israel, Europe, and internationally.

Brown-Forman

Market Cap: US$11.9b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Coca-Cola Consolidated

Market Cap: US$11.9b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.