German Software Defensive Blue Chips

Ambev

Market Cap: R$241.3b

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.

Teradyne

Market Cap: US$46.4b

Engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ170.5b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Holcim

Market Cap: CHF 36.0b

Provides building materials and solutions in Europe, Latin America, and Asia, Middle East, and Africa.

MetLife

Market Cap: US$46.1b

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

ASE Technology Holding

Market Cap: NT$1.5t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

Heineken

Market Cap: €39.6b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

Coca-Cola Europacific Partners

Market Cap: €39.4b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

Diageo

Market Cap: UK£34.0b

Engages in the production, marketing, and distribution of alcoholic beverages in North America, Europe, the Asia Pacific, Latin America and Caribbean, and Africa.

Kuwait Finance House K.S.C.P

Market Cap: د.ك13.9b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Hershey

Market Cap: US$45.2b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Kroger

Market Cap: US$45.0b

Operates as a food and drug retailer in the United States.

RWE

Market Cap: €38.4b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

PICC Property and Casualty

Market Cap: HK$348.8b

Engages in property and casualty insurance business in People’s Republic of China.

Axis Bank

Market Cap: ₹4.1t

Provides various financial products and services in India and internationally.

DNB Bank

Market Cap: NOK 425.0b

Provides financial services to individuals and businesses in Norway and internationally.

Rocket Companies

Market Cap: US$44.0b

A fintech company, engages in the mortgage, real estate, and personal finance businesses in the United States and Canada.

Erste Group Bank

Market Cap: €37.7b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

SSE

Market Cap: UK£32.2b

Engages in the generation, transmission, distribution, and supply of electricity.

Koninklijke Ahold Delhaize

Market Cap: €36.6b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Kotak Mahindra Bank

Market Cap: ₹3.9t

Provides a range of banking and financial services to corporate and individual customers in India.

Fifth Third Bancorp

Market Cap: US$42.4b

Operates as the bank holding company for Fifth Third Bank, National Association that provides a range of financial products and services in the United States.

ITC

Market Cap: ₹3.9t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

American International Group

Market Cap: US$41.6b

Provides insurance products for commercial, institutional, and individual customers in North America and internationally.

Telstra Group

Market Cap: AU$58.1b

Provides telecommunications and information services in Australia and internationally.

Swedbank

Market Cap: SEK 379.6b

Provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Endesa

Market Cap: €35.5b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Danske Bank

Market Cap: DKK 264.8b

Provides various banking products and services to corporate, institutional, and international clients.

Great-West Lifeco

Market Cap: CA$55.8b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Sysco

Market Cap: US$40.6b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Consolidated Edison

Market Cap: US$40.4b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Tesco

Market Cap: UK£30.0b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

ASM International

Market Cap: €34.6b

Engages in the research, development, manufacture, marketing, and servicing of equipment and materials used to produce semiconductor devices in Europe, the United States, and Asia.

Skandinaviska Enskilda Banken

Market Cap: SEK 369.2b

Provides corporate, retail, investment, and private banking services.

Commerzbank

Market Cap: €34.5b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Muyuan Foods

Market Cap: CN¥273.0b

Operates as a pork company in the hog farming industry in China.