Croatian Utilities Defensive Blue Chips

Banco Comercial Português

Market Cap: €15.2b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Mizrahi Tefahot Bank

Market Cap: ₪51.2b

Provides various banking services in Israel and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 79.0b

Produces and supplies electricity from hydroelectric and wind sources in Romania.

Zimmer Biomet Holdings

Market Cap: US$17.3b

Operates as a medical technology company worldwide.

Bank of Hangzhou

Market Cap: CN¥116.0b

Provides various banking products and services in China.

Vodacom Group

Market Cap: R281.4b

Provides communications products and services in South Africa, Egypt, Kenya, and internationally.

Huaneng Power International

Market Cap: HK$132.6b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China, the Islamic Republic of Pakistan, and internationally.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$132.2b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

Hua Nan Financial Holdings

Market Cap: NT$530.2b

Provides financial services in Taiwan and internationally.

Elia Group

Market Cap: €14.6b

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

SinoPac Financial Holdings

Market Cap: NT$526.8b

Through its subsidiaries, provides banking services worldwide.

GlobalWafers

Market Cap: NT$525.9b

Researches, develops, designs, manufactures and sells semiconductor ingots/wafers in Taiwan and internationally.

Bank Polska Kasa Opieki

Market Cap: zł61.8b

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

mBank

Market Cap: zł61.7b

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

OmniVision Integrated Circuits Group

Market Cap: CN¥111.9b

Engages in the design, development, and sale of integrated circuits and computer software and hardware in China and internationally.

ING Bank Slaski

Market Cap: zł60.9b

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

Performance Food Group

Market Cap: US$16.4b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp292.6t

Provides information and communications technology, and telecommunications network services worldwide.

Phison Electronics

Market Cap: NT$515.1b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Hwatsing Technology

Market Cap: CN¥109.8b

Engages in the research, development, production, sales, and technical services of semiconductor equipment in China and internationally.

KGI Financial Holding

Market Cap: NT$512.6b

Operates as a financial company in Taiwan and internationally.

Kansai Electric Power Company

Market Cap: JP¥2.6t

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

FinecoBank Banca Fineco

Market Cap: €14.0b

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

Bank of Beijing

Market Cap: CN¥108.7b

Provides various banking services to individuals and corporates in China.

Hua Xia Bank

Market Cap: CN¥108.5b

Provides commercial banking services in China and Hong Kong.

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.

Powszechny Zaklad Ubezpieczen

Market Cap: zł59.1b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

National Bank of Greece

Market Cap: €13.9b

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

National Silicon Industry Group

Market Cap: CN¥107.1b

National Silicon Industry Group Co., Ltd.

Tenet Healthcare

Market Cap: US$15.8b

Operates as a diversified healthcare services company in the United States.

SDIC Power Holdings

Market Cap: CN¥106.6b

Engages in the electricity generation business in China.

Onto Innovation

Market Cap: US$15.7b

Engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.

Banco Santander-Chile

Market Cap: CL$13.9t

Provides commercial and retail banking products and services in Chile.

Bankinter

Market Cap: €13.6b

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

ASR Nederland

Market Cap: €13.5b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

Woori Financial Group

Market Cap: ₩23.5t

Operates as a bank which provides various financial services in Korea, China, the United States, the United Kingdom, Japan, and internationally.