Indonesian Software Defensive Blue Chips

QBE Insurance Group

Market Cap: AU$29.6b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Hana Financial Group

Market Cap: ₩30.0t

Through its subsidiaries, provides financial services in South Korea.

Quest Diagnostics

Market Cap: US$20.6b

Provides diagnostic testing and services in the United States and internationally.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp341.8t

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

Grupo Cibest

Market Cap: Col$74.9t

Provides various banking products and services in Colombia and internationally.

Eastroc Beverage (Group)

Market Cap: CN¥141.2b

Engages in the manufacturing and distribution of beverages in China, Vietnam, and Malaysia.

Coles Group

Market Cap: AU$29.0b

Operates as a retailer in Australia.

Coca-Cola HBC

Market Cap: UK£14.8b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Fortum Oyj

Market Cap: €17.1b

Engages in the generation and sale of electricity and heat in Finland, Sweden, the Netherlands, Ireland, Denmark, Belgium, the United Kingdom, Switzerland, Spain, France, Germany, Norway, and internationally.

LONGi Green Energy Technology

Market Cap: CN¥140.3b

Manufactures and sells photovoltaic products in China, Europe, the Asia Pacific, and the United States.

Cellnex Telecom

Market Cap: €17.1b

Engages in the management of terrestrial telecommunications infrastructures in Austria, Denmark, Spain, France, Ireland, Italy, the Netherlands, Poland, Portugal, the United Kingdom, Sweden, and Switzerland.

Banco de Sabadell

Market Cap: €17.0b

Provides banking products and services to personal, business, and private customers in Spain and internationally.

IHH Healthcare Berhad

Market Cap: RM 78.5b

An investment holding company, offers healthcare services in Malaysia, Singapore, Turkey, India, China, Japan, Europe, and internationally.

Bank of Ireland Group

Market Cap: €16.9b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Saudi Awwal Bank

Market Cap: ر.س73.8b

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

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ72.1b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

Terumo

Market Cap: JP¥3.0t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

Arca Continental. de

Market Cap: Mex$333.5b

Produces, distributes, and sells soft drinks in Mexico, Argentina, Ecuador, Peru, the United States, and internationally.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$101.0b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.

Koninklijke KPN

Market Cap: €16.2b

Provides telecommunications and information technology (IT) services in the Netherlands.

Bank of Shanghai

Market Cap: CN¥131.7b

Provides various banking products and services in China.

Vodacom Group

Market Cap: R300.8b

Provides communications products and services.

Bank of Nanjing

Market Cap: CN¥130.8b

Provides various financial products and services in China.

Telia Company

Market Cap: SEK 167.4b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

US Foods Holding

Market Cap: US$18.8b

Engages in marketing, sale, and distribution of fresh, frozen, and dry food and non-food products to foodservice customers in the United States.

Alinma Bank

Market Cap: ر.س70.4b

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

Straumann Holding

Market Cap: CHF 14.5b

Provides tooth replacement and orthodontic solutions worldwide.

Coloplast

Market Cap: DKK 117.9b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

Rede D'Or São Luiz

Market Cap: R$96.8b

Engages in the provision of hospital services in Brazil.

Lasertec

Market Cap: JP¥2.9t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

Mega Financial Holding

Market Cap: NT$577.0b

Provides various financial services in Taiwan.

CEMEX. de

Market Cap: Mex$314.1b

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

JDE Peet's

Market Cap: €15.4b

Operates as a coffee and tea company worldwide.

Associated British Foods

Market Cap: UK£13.2b

Engages in the food, ingredients, and retail businesses worldwide.

Insulet

Market Cap: US$18.1b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Anhui Conch Cement

Market Cap: CN¥125.2b

Manufactures, sells, and trades in clinker and cement products in China and internationally.