Danish Consumer Retailing Defensive Blue Chips

ASE Technology Holding

Market Cap: NT$2.7t

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

National Grid

Market Cap: UK£60.5b

Engages in the transmission and distribution of electricity and gas.

Abu Dhabi National Energy Company PJSC

Market Cap: د.إ298.0b

Operates as an integrated utility company in the United Arab Emirates, North America, Europe, Africa, and internationally.

Elevance Health

Market Cap: US$80.9b

Operates as a health benefits company in the United States.

Aon

Market Cap: US$78.7b

Operates as a professional services firm in the United States, rest of the Americas, the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, and the Asia Pacific.

América Móvil. de

Market Cap: Mex$1.4t

Provides telecommunications services in Latin America and internationally.

China Telecom

Market Cap: HK$604.2b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

ANZ Group Holdings

Market Cap: AU$108.6b

Engages in the provision of banking and financial products and services to retail and business customers in Australia and internationally.

Cigna Group

Market Cap: US$75.1b

Provides insurance and related products and services in the United States.

Engie

Market Cap: €64.8b

Engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €64.4b

Engages in the insurance and reinsurance businesses worldwide.

NAURA Technology Group

Market Cap: CN¥491.3b

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

Manulife Financial

Market Cap: CA$101.6b

Provides financial products and services in the United States, Canada, Asia, and internationally.

Assicurazioni Generali

Market Cap: €63.0b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

Travelers Companies

Market Cap: US$71.8b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States, Canada, and internationally.

NatWest Group

Market Cap: UK£52.9b

Provides banking and financial products and services in the United Kingdom and internationally.

CRH

Market Cap: US$70.6b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Japan Tobacco

Market Cap: JP¥11.3t

A tobacco company, engages in the manufacture and sale of tobacco products in Japan and internationally.

JAPAN POST BANK

Market Cap: JP¥11.2t

Provides financial products and services in Japan and internationally.

NXP Semiconductors

Market Cap: US$68.3b

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

KDDI

Market Cap: JP¥10.9t

Engages in the provision of mobile telecommunications services in Japan and internationally.

Nu Holdings

Market Cap: US$67.0b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Truist Financial

Market Cap: US$66.3b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Boston Scientific

Market Cap: US$66.3b

Develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide.

Nordea Bank Abp

Market Cap: €57.8b

Offers banking products and services for individuals, families, and businesses in Sweden, Finland, Norway, Denmark, and internationally.

Arthur J. Gallagher

Market Cap: US$65.8b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

SoftBank

Market Cap: JP¥10.6t

Provides mobile communications and fixed-line telecommunications and ISP services in Japan.

National Bank of Canada

Market Cap: CA$90.1b

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

Monolithic Power Systems

Market Cap: US$64.1b

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

Target

Market Cap: US$63.7b

Operates as a general merchandise retailer in the United States.

BOC Hong Kong (Holdings)

Market Cap: HK$491.6b

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

Aflac

Market Cap: US$62.6b

Through its subsidiaries, provides supplemental health and life insurance products.

Allstate

Market Cap: US$62.3b

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

Société Générale Société anonyme

Market Cap: €54.4b

Provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally.

Standard Chartered

Market Cap: UK£46.3b

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

Crédit Agricole

Market Cap: €54.2b

Provides retail and corporate banking, insurance, and investment banking products and services in France, Italy, rest of the European Union, rest of Europe, North America, Central and South America, Africa, the Middle East, the Asia Pacific, and Japan.