Finnish Utilities Defensive Blue Chips

Eurobank

Market Cap: €15.5b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

National Silicon Industry Group

Market Cap: CN¥119.9b

National Silicon Industry Group Co., Ltd.

Saudi Awwal Bank

Market Cap: ر.س66.1b

Provides banking and financial services in the Kingdom of Saudi Arabia.

CEMEX. de

Market Cap: Mex$307.6b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$137.2b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

E.SUN Financial Holding Company

Market Cap: NT$558.0b

Offers various financial banking products and services in Taiwan.

Zimmer Biomet Holdings

Market Cap: US$17.4b

Operates as a medical technology company worldwide.

Amkor Technology

Market Cap: US$17.3b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Nexchip Semiconductor (China)

Market Cap: CN¥116.9b

Engages in the research, development, production, and sale of integrated circuit related products in China and internationally.

Elia Group

Market Cap: €15.0b

Develops and operates as a transmission system operator in Belgium and Germany.

China Resources Microelectronics

Market Cap: CN¥116.0b

Engages in the manufacture and sale of semiconductors in China and internationally.

Hua Nan Financial Holdings

Market Cap: NT$542.1b

Provides financial services in Taiwan and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥112.2b

Produces and sells alcoholic products in China and internationally.

Ingenic SemiconductorLtd

Market Cap: CN¥111.8b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

Krung Thai Bank

Market Cap: ฿548.6b

Engages in commercial banking business in Thailand and internationally.

Bank of Hangzhou

Market Cap: CN¥111.2b

Provides various banking products and services in China.

Beijing YanDong MicroElectronic

Market Cap: CN¥110.9b

Beijing YanDong MicroElectronic Co., Ltd.

SiTime

Market Cap: US$16.2b

Engages in the design, development, and sale of silicon timing systems solutions in Hong Kong, Taiwan, the United States, Singapore, and internationally.

Kasikornbank

Market Cap: ฿540.7b

Provides commercial banking products and services in Thailand and internationally.

Bank Polska Kasa Opieki

Market Cap: zł60.9b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

National Bank of Greece

Market Cap: €14.1b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Bank of Beijing

Market Cap: CN¥108.3b

Provides various banking services to individuals and corporates in China.

KGI Financial Holding

Market Cap: NT$510.9b

Operates as a financial company in Taiwan and internationally.

mBank

Market Cap: zł59.9b

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

Beijing E-Town Semiconductor Technology

Market Cap: CN¥107.8b

Beijing E-Town Semiconductor Technology Co., Ltd.

FinecoBank Banca Fineco

Market Cap: €13.9b

Provides banking, credit, trading and investment services in Italy.

SDIC Power Holdings

Market Cap: CN¥107.7b

Engages in the electricity generation business in China.

Hua Xia Bank

Market Cap: CN¥107.6b

Provides commercial banking services in China and Hong Kong.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

Airtel Africa

Market Cap: UK£11.8b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

ING Bank Slaski

Market Cap: zł59.4b

Provides various banking products and services for retail clients and businesses in Poland.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ57.8b

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

Bankinter

Market Cap: €13.8b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

BAWAG Group

Market Cap: €13.7b

Operates as a holding company for BAWAG P.S.K.