German Software Defensive Blue Chips

Industrial Bank

Market Cap: CN¥387.3b

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

Saudi Telecom

Market Cap: ر.س210.2b

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

China CITIC Bank

Market Cap: CN¥387.1b

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

BOC Hong Kong (Holdings)

Market Cap: HK$436.4b

An investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally.

Life Insurance Corporation of India

Market Cap: ₹5.1t

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

Allstate

Market Cap: US$55.1b

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

Alimentation Couche-Tard

Market Cap: CA$74.8b

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

First Abu Dhabi Bank P.J.S.C

Market Cap: د.إ201.1b

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

Target

Market Cap: US$54.7b

Operates as a general merchandise retailer in the United States.

Wal-Mart de México. de

Market Cap: Mex$964.2b

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

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.

Loblaw Companies

Market Cap: CA$72.8b

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.

National Bank of Canada

Market Cap: CA$72.1b

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

Orange

Market Cap: €45.5b

Operates as a telecommunications operator in France and internationally.

Siemens Healthineers

Market Cap: €44.9b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

Danone

Market Cap: €44.3b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

Cardinal Health

Market Cap: US$51.2b

Operates as a healthcare services and products company in the United States and internationally.

NXP Semiconductors

Market Cap: US$51.0b

Provides semiconductor products in the United States, Germany, Japan, South Korea, Taiwan, Singapore, the Netherlands, Mainland China, Hong Kong, and internationally.

People's Insurance Company (Group) of China

Market Cap: HK$394.4b

An investment holding company, provides insurance products and services in the People’s Republic of China and Hong Kong.

Monolithic Power Systems

Market Cap: US$50.3b

Provides semiconductor-based power electronics solutions in China, Taiwan, South Korea, Southeast Asia, Europe, the United States, Japan, and internationally.

KBC Group

Market Cap: €43.0b

Provides banking, insurance, and asset management services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Bank Central Asia

Market Cap: Rp845.7t

Provides commercial banking and other financial services.

Emirates NBD Bank PJSC

Market Cap: د.إ182.9b

Engages in the provision of corporate, institutional, retail, treasury, and Islamic banking services.

China Pacific Insurance (Group)

Market Cap: CN¥342.8b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

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.

Standard Chartered

Market Cap: UK£36.4b

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

Swiss Re

Market Cap: CHF 37.7b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

IDEXX Laboratories

Market Cap: US$48.4b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

Swisscom

Market Cap: CHF 37.5b

Provides telecommunication services in Switzerland, Italy, and internationally.

Becton Dickinson

Market Cap: US$47.6b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

NAURA Technology Group

Market Cap: CN¥328.1b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

Shanghai Pudong Development Bank

Market Cap: CN¥328.1b

Shanghai Pudong Development Bank Co., Ltd.

Edwards Lifesciences

Market Cap: US$47.4b

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

MetLife

Market Cap: US$46.8b

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

Ambev

Market Cap: R$240.7b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

United Overseas Bank

Market Cap: S$58.6b

Provides banking products and services worldwide.