German Software Defensive Blue Chips

Hang Seng Bank

Market Cap: US$29.6b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Standard Bank Group

Market Cap: R483.5b

Provides financial products and services in South Africa and internationally.

Shinhan Financial Group

Market Cap: ₩43.2t

Provides financial products and services in South Korea and internationally.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ107.4b

Provides banking products and services in the United Arab Emirates and internationally.

Adani Power

Market Cap: ₹2.7t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Advanced Micro-Fabrication Equipment China

Market Cap: CN¥199.9b

Advanced Micro-Fabrication Equipment Inc.

Kraft Heinz

Market Cap: US$28.9b

Manufactures and markets food and beverage products in North America and internationally.

GigaDevice Semiconductor

Market Cap: CN¥198.7b

Engages in the research, development, technical support, and sale of memory, microcontrollers, and sensors.

New China Life Insurance

Market Cap: CN¥198.6b

Provides life insurance products and services to individuals and institutions in China.

Huaneng Lancang River Hydropower

Market Cap: CN¥196.6b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

Sampo Oyj

Market Cap: €24.4b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Veolia Environnement

Market Cap: €24.2b

Designs and provides water, waste, and energy management solutions.

Bank of Jiangsu

Market Cap: CN¥193.2b

Provides various banking products and services in China.

Avenue Supermarts

Market Cap: ₹2.6t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥191.4b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Willis Towers Watson

Market Cap: US$27.9b

Operates as an advisory, broking, and solutions company worldwide.

Banco do Brasil

Market Cap: R$143.5b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Koninklijke Philips

Market Cap: €23.8b

Operates as a health technology company in North America, the Greater China, and internationally.

Samsung Life Insurance

Market Cap: ₩40.7t

Engages in the life insurance business to corporate and individual customers in South Korea and internationally.

China Everbright Bank

Market Cap: CN¥189.4b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

BNP Paribas Fortis

Market Cap: €23.7b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

China National Nuclear Power

Market Cap: CN¥186.3b

Engages in the investment, development, construction, operation, and management of nuclear power projects in the People's Republic of China.

National Bank of KuwaitK.P

Market Cap: د.ك8.3b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Ajinomoto

Market Cap: JP¥4.3t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

BT Group

Market Cap: UK£20.2b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Naturgy Energy Group

Market Cap: €23.2b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

American Water Works Company

Market Cap: US$26.9b

Through its subsidiaries, provides water and wastewater services in the United States.

Bank Mandiri (Persero)

Market Cap: Rp455.1t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

George Weston

Market Cap: CA$36.3b

Provides food and drug retailing, and financial services in Canada.

ABN AMRO Bank

Market Cap: €22.9b

Provides various banking products and financial services to retail, private, and business clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Montage Technology

Market Cap: CN¥182.1b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and data center markets in the People’s Republic of China.

DexCom

Market Cap: US$26.5b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

GLOBALFOUNDRIES

Market Cap: US$26.3b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Credicorp

Market Cap: US$26.2b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Telefônica Brasil

Market Cap: R$134.5b

Operates as a mobile telecommunications company in Brazil.

Banca Monte dei Paschi di Siena

Market Cap: €22.5b

Provides retail and commercial banking services in Italy.