Hungarian Utilities Defensive Blue Chips

Sejahteraraya Anugrahjaya

Market Cap: Rp190.8t

Provides medical services in Indonesia.

Assurant

Market Cap: US$11.4b

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

United Spirits

Market Cap: ₹1.0t

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

SinoPac Financial Holdings

Market Cap: NT$352.5b

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

Encompass Health

Market Cap: US$11.4b

Provides post-acute healthcare services in the United States and Puerto Rico.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$1.5b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Industrial Bank of Korea

Market Cap: ₩16.5t

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

Globus Medical

Market Cap: US$11.3b

A medical device company, develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

TIM

Market Cap: R$59.8b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.

Tsingtao Brewery

Market Cap: CN¥80.2b

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

Chubu Electric Power Company

Market Cap: JP¥1.7t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

ICICI Lombard General Insurance

Market Cap: ₹998.1b

Provides various general insurance products and services in India.

Banque Saudi Fransi

Market Cap: ر.س42.2b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Bank Albilad

Market Cap: ر.س42.1b

Through its subsidiaries, provides various banking products and services in the Kingdom of Saudi Arabia.

ACM Research (Shanghai)

Market Cap: CN¥79.7b

Engages in the research, development, production, and sale of semiconductor equipment in China.

Bank Permata

Market Cap: Rp186.3t

Provides various banking products and services in Indonesia.

Tower Semiconductor

Market Cap: US$11.1b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Manila Electric

Market Cap: ₱657.1b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Dino Polska

Market Cap: zł40.1b

Operates a network of medium-sized grocery supermarkets under the Dino brand in Poland.

Celsius Holdings

Market Cap: US$11.0b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

Italgas

Market Cap: €9.5b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Saputo

Market Cap: CA$15.5b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, Argentina, and the United Kingdom.

BKW

Market Cap: CHF 8.7b

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.

Penumbra

Market Cap: US$11.0b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Carrefour

Market Cap: €9.4b

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

Chongqing Rural Commercial Bank

Market Cap: HK$84.5b

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

Komercní banka

Market Cap: Kč226.1b

Provides various retail, corporate, and investment banking services primarily in the Czech Republic, and Central and Eastern Europe.

Shree Cement

Market Cap: ₹963.4b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Waaree Energies

Market Cap: ₹963.2b

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

Anhui Gujing Distillery

Market Cap: CN¥76.9b

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

iA Financial

Market Cap: CA$15.2b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Marico

Market Cap: ₹959.6b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Old Republic International

Market Cap: US$10.8b

Through its subsidiaries, provides insurance underwriting and related services primarily in the United States and Canada.

Maplebear

Market Cap: US$10.8b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥76.5b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Tele2

Market Cap: SEK 101.7b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.