Danish Software Defensive Blue Chips

China Unicom (Hong Kong)

Market Cap: HK$233.2b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Standard Bank Group

Market Cap: R479.5b

Provides financial products and services in South Africa 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.

Naturgy Energy Group

Market Cap: €24.9b

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

Grupo Financiero Banorte. de

Market Cap: Mex$510.2b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥203.3b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Renesas Electronics

Market Cap: JP¥4.6t

Researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

NRG Energy

Market Cap: US$28.5b

Operates as an energy and home services company in the United States and Canada.

National Bank of KuwaitK.P

Market Cap: د.ك8.8b

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.

Constellation Brands

Market Cap: US$28.4b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Koninklijke Philips

Market Cap: €24.1b

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

Huntington Bancshares

Market Cap: US$28.2b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States.

Ørsted

Market Cap: DKK 179.1b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage and renewable hydrogen facilities, and bioenergy plants.

Kraft Heinz

Market Cap: US$28.1b

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

Bank of Ningbo

Market Cap: CN¥194.8b

Provides various personal and business banking products and services in the People's Republic of China.

China Everbright Bank

Market Cap: CN¥193.2b

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.

Credo Technology Group Holding

Market Cap: US$27.7b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

DexCom

Market Cap: US$27.6b

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

Nestlé India

Market Cap: ₹2.5t

Engages in the manufacture and sale of food products in India and internationally.

Bank Mandiri (Persero)

Market Cap: Rp464.8t

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

Montage Technology

Market Cap: CN¥190.7b

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

Shinhan Financial Group

Market Cap: ₩39.9t

Provides financial products and services in South Korea and internationally.

BPER Banca

Market Cap: €23.2b

Provides banking products and services for individuals, and businesses and professionals in Italy and internationally.

Atmos Energy

Market Cap: US$27.2b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Brown & Brown

Market Cap: US$27.0b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally.

Hua Hong Semiconductor

Market Cap: HK$209.4b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, Europe, and Japan.

United Microelectronics

Market Cap: NT$848.7b

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

Aviva

Market Cap: UK£19.9b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, and internationally.

JD Health International

Market Cap: HK$208.1b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Dollar Tree

Market Cap: US$26.7b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

CGN Power

Market Cap: HK$207.6b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

Avenue Supermarts

Market Cap: ₹2.4t

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

George Weston

Market Cap: CA$36.5b

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

China National Nuclear Power

Market Cap: CN¥183.9b

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

Power Grid Corporation of India

Market Cap: ₹2.4t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Nanya Technology

Market Cap: NT$825.8b

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.