Spanish Consumer Retailing Defensive Blue Chips

James Hardie Industries

Market Cap: AU$17.4b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Globe Life

Market Cap: US$11.4b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ41.7b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

First Horizon

Market Cap: US$11.4b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

China Resources Beer (Holdings)

Market Cap: HK$88.2b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Skyworks Solutions

Market Cap: US$11.3b

Designs, develops, manufactures, and markets semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific.

Osaka Gas

Market Cap: JP¥1.7t

Provides gas, electricity, and other energy products and services in Japan and internationally.

BKW

Market Cap: CHF 9.0b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

IDBI Bank

Market Cap: ₹995.7b

Provides banking and financial solutions to retail and corporate customers in India.

Jentech Precision Industrial

Market Cap: NT$340.2b

Manufactures and sells precision molds and its material worldwide.

Raiffeisen Bank International

Market Cap: €9.5b

Offers banking services to corporate, private, and institutional customers.

Waaree Energies

Market Cap: ₹989.2b

Manufactures and exports solar photovoltaic modules for residential, commercial, industrial, and institutional projects.

Baloise Holding

Market Cap: CHF 8.9b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥79.2b

Beijing E-Town Semiconductor Technology Co., Ltd.

Acciona

Market Cap: €9.5b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Rambus

Market Cap: US$11.1b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

JCET Group

Market Cap: CN¥78.9b

Provides integrated-circuit manufacturing and technology services in China and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥78.9b

Provides a range of banking products and services to individual and corporate customers in China.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م100.3b

Provides various telecommunication solutions in Morocco and internationally.

ING Bank Slaski

Market Cap: zł39.8b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Assurant

Market Cap: US$11.0b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Industrial Bank of Korea

Market Cap: ₩15.4t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Tsingtao Brewery

Market Cap: CN¥78.0b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

China Zheshang Bank

Market Cap: HK$85.3b

Provides various commercial banking products and services in Mainland China.

Mowi

Market Cap: NOK 109.0b

A seafood company, produces and sells Atlantic salmon products worldwide.

SinoPac Financial Holdings

Market Cap: NT$332.8b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

mBank

Market Cap: zł39.5b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

United Spirits

Market Cap: ₹967.5b

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Anhui Gujing Distillery

Market Cap: CN¥77.5b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Taiwan Mobile

Market Cap: NT$329.7b

Provides wireless communication services in Taiwan, the Republic of China, and internationally.

Carrefour

Market Cap: €9.2b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

Krung Thai Bank

Market Cap: ฿349.4b

Engages in commercial banking business in Thailand and internationally.

Piraeus Financial Holdings

Market Cap: €9.2b

Provides banking products and services in Greece and internationally.

ICICI Lombard General Insurance

Market Cap: ₹951.0b

Provides various general insurance products and services in India.

Unigroup Guoxin Microelectronics

Market Cap: CN¥76.1b

Unigroup Guoxin Microelectronics Co., Ltd.

Sanan OptoelectronicsLtd

Market Cap: CN¥75.8b

Engages in the research, development, production, and sale of LED epitaxial wafers and chips, compound semiconductors, semiconductor and communication chips, and sapphire substrates in China and internationally.