German Software Defensive Blue Chips

Mora Telematika Indonesia

Market Cap: Rp347.0t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$2.6b

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

Principal Financial Group

Market Cap: US$20.2b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

QBE Insurance Group

Market Cap: AU$29.5b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

NN Group

Market Cap: €17.1b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Terumo

Market Cap: JP¥3.2t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Mizrahi Tefahot Bank

Market Cap: ₪63.1b

Provides a range of international, commercial, domestic, and personal banking services to individuals and businesses in Israel and internationally.

Heineken Holding

Market Cap: €17.0b

Engages in brewing and selling beer and cider in the Netherlands and internationally.

Insulet

Market Cap: US$20.0b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

MTN Group

Market Cap: R322.5b

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

Cellnex Telecom

Market Cap: €16.9b

Engages in the management of terrestrial telecommunications infrastructures in Austria, Denmark, Spain, France, Ireland, Italy, the Netherlands, Poland, Portugal, the United Kingdom, Sweden, and Switzerland.

Straumann Holding

Market Cap: CHF 15.4b

Provides tooth replacement and orthodontic solutions worldwide.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ71.2b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

Arca Continental. de

Market Cap: Mex$338.2b

Produces, distributes, and sells soft drinks in Mexico, Argentina, Ecuador, Peru, the United States, and internationally.

Coles Group

Market Cap: AU$28.1b

Operates as a retailer in Australia.

Coloplast

Market Cap: DKK 122.1b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Saudi Awwal Bank

Market Cap: ر.س72.2b

Provides banking and financial services in the Kingdom of Saudi Arabia.

Coca-Cola HBC

Market Cap: UK£14.1b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Bank of Shanghai

Market Cap: CN¥132.9b

Provides various banking products and services in China.

IHH Healthcare Berhad

Market Cap: RM 76.0b

An investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally.

Eastroc Beverage(Group)

Market Cap: CN¥131.8b

Engages in the research and development, production, and sales of beverages in China.

Banco de Sabadell

Market Cap: €16.0b

Provides banking products and services to personal, business, and private customers in Spain and internationally.

CEMEX. de

Market Cap: Mex$327.7b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

Hana Financial Group

Market Cap: ₩27.5t

Through its subsidiaries, provides financial services in South Korea.

Bank of Ireland Group

Market Cap: €15.9b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Mega Financial Holding

Market Cap: NT$588.9b

Provides various financial services in Taiwan.

Bank of Nanjing

Market Cap: CN¥128.0b

Provides various financial products and services in China.

US Foods Holding

Market Cap: US$18.3b

Engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Alinma Bank

Market Cap: ر.س68.3b

Provides banking and investment services in the Kingdom of Saudi Arabia.

Rede D'Or São Luiz

Market Cap: R$95.8b

Engages in the provision of hospital services in Brazil.

Associated British Foods

Market Cap: UK£13.3b

Engages in the food, ingredients, and retail businesses worldwide.

JDE Peet's

Market Cap: €15.3b

Operates as a coffee and tea company worldwide.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$95.1b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

Airtel Africa

Market Cap: UK£13.1b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Kansai Electric Power Company

Market Cap: JP¥2.8t

Engages in electricity, gas and heat supply, and telecommunication and gas supply in Japan.

Telia Company

Market Cap: SEK 158.7b

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