Spanish Software Defensive Blue Chips

Orange

Market Cap: €41.2b

Operates as a telecommunications operator in France and internationally.

Edwards Lifesciences

Market Cap: US$48.9b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally.

Shanghai Pudong Development Bank

Market Cap: CN¥334.7b

Shanghai Pudong Development Bank Co., Ltd.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ176.7b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

National Bank of Canada

Market Cap: CA$64.4b

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

Target

Market Cap: US$47.1b

Operates as a general merchandise retailer in the United States.

Swiss Re

Market Cap: CHF 36.0b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Commerzbank

Market Cap: €39.1b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

PICC Property and Casualty

Market Cap: HK$363.2b

Engages in property and casualty insurance business in People’s Republic of China.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.1b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 402.9b

Provides corporate, retail, investment, and private banking services.

Ambev

Market Cap: R$234.7b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada.

RWE

Market Cap: €37.7b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Swedbank

Market Cap: SEK 394.6b

Provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Kotak Mahindra Bank

Market Cap: ₹4.1t

Provides a range of banking and financial services to corporate and individual customers in India.

Axis Bank

Market Cap: ₹4.1t

Provides various financial products and services in India and internationally.

Heineken

Market Cap: €37.0b

Heineken N.V. brews and sells beer and cider in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

ITC

Market Cap: ₹4.0t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

ASE Technology Holding

Market Cap: NT$1.4t

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

Great-West Lifeco

Market Cap: CA$58.4b

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

DNB Bank

Market Cap: NOK 412.6b

Provides financial services to individuals and businesses in Norway and internationally.

Swisscom

Market Cap: CHF 32.6b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Danske Bank

Market Cap: DKK 264.8b

Provides various banking products and services to corporate, institutional, and international clients.

ASM International

Market Cap: €35.4b

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

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ153.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Prudential

Market Cap: UK£29.9b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

UltraTech Cement

Market Cap: ₹3.8t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Coca-Cola Europacific Partners

Market Cap: €34.1b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

Moore Threads Technology

Market Cap: CN¥283.4b

Engages in the development of GPU chips and related products.

Microchip Technology

Market Cap: US$40.4b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Kroger

Market Cap: US$40.3b

Operates as a food and drug retailer in the United States.

Fubon Financial Holding

Market Cap: NT$1.3t

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

American International Group

Market Cap: US$39.8b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

Vulcan Materials

Market Cap: US$39.7b

Produces and supplies construction aggregates in the United States.

Alcon

Market Cap: CHF 30.4b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

Aeon

Market Cap: JP¥6.0t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.