Spanish Materials Defensive Blue Chips

Target

Market Cap: US$60.9b

Operates as a general merchandise retailer in the United States.

National Bank of Canada

Market Cap: CA$86.4b

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

Fubon Financial Holding

Market Cap: NT$1.9t

Provides various financial products and services in Taiwan, Asia, and internationally.

Aflac

Market Cap: US$60.5b

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

Crédit Agricole

Market Cap: €53.3b

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.

Sempra

Market Cap: US$60.3b

Engages in the regulated utilities business in the United States and Mexico.

Nongfu Spring

Market Cap: HK$469.9b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Allstate

Market Cap: US$59.6b

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

Standard Chartered

Market Cap: UK£45.1b

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

Alimentation Couche-Tard

Market Cap: CA$84.4b

Operates and licenses convenience stores in North America, Europe, and Asia.

Life Insurance Corporation of India

Market Cap: ₹5.6t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

China CITIC Bank

Market Cap: CN¥399.1b

Provides various banking products and services in the People’s Republic of China and internationally.

Saudi Telecom

Market Cap: ر.س219.5b

Provides telecommunications, information, media, and digital payment services in the Kingdom of Saudi Arabia and internationally.

MetLife

Market Cap: US$56.6b

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

Disco

Market Cap: JP¥9.0t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Arthur J. Gallagher

Market Cap: US$55.4b

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

Great-West Lifeco

Market Cap: CA$78.7b

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

ASM International

Market Cap: €48.6b

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

Singapore Telecommunications

Market Cap: S$71.4b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.

SJ Semiconductor

Market Cap: CN¥373.7b

Operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally.

Industrial Bank

Market Cap: CN¥373.5b

Provides banking products and services in the People’s Republic of China.

HOYA

Market Cap: JP¥8.9t

A med-tech company, provides high-tech and medical products in the Japan, Asia, the Americas, Europe, and internationally.

Vistra

Market Cap: US$54.8b

Operates as an integrated retail electricity and power generation company in the United States.

Cencora

Market Cap: US$54.7b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

First Abu Dhabi Bank P.J.S.C

Market Cap: د.إ199.3b

Provides various banking products and services in the United Arab Emirates, Europe, Arab countries, the Americas, Asia, and internationally.

Cardinal Health

Market Cap: US$53.6b

Operates as a healthcare services and products company in the United States and internationally.

Renesas Electronics

Market Cap: JP¥8.6t

Engages in the design, research, development, manufacturing, sale, and service of semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

KBC Group

Market Cap: €46.9b

Provides banking, insurance, and asset management services in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Emirates NBD Bank PJSC

Market Cap: د.إ194.7b

Engages in the provision of corporate, institutional, retail, treasury, and Islamic banking services.

E.ON

Market Cap: €46.6b

Operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally.

Loblaw Companies

Market Cap: CA$75.1b

A food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services in Canada and the United States.

Cathay Financial Holding

Market Cap: NT$1.7t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Entergy

Market Cap: US$52.1b

Engages in the production and retail distribution of electricity in the United States.

FBC Holdings

Market Cap: US$6.7b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Holcim

Market Cap: CHF 41.9b

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

Advanced Micro-Fabrication Equipment China

Market Cap: CN¥348.3b

Advanced Micro-Fabrication Equipment Inc.