Indian Commercial Services Defensive Blue Chips

Shanghai United Imaging Healthcare

Market Cap: CN¥117.0b

Shanghai United Imaging Healthcare Co., Ltd.

Hua Xia Bank

Market Cap: CN¥116.8b

Provides commercial banking services in China and Hong Kong.

bioMérieux

Market Cap: €14.0b

Develops and markets in vitro diagnostic solutions for infectious diseases in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Bunge Global

Market Cap: US$16.2b

Operates as an agribusiness and food company worldwide.

Saudi Electricity

Market Cap: ر.س60.6b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Jerónimo Martins SGPS

Market Cap: €13.8b

Operates in the food distribution and specialized retail sectors in Portugal, Poland, Colombia, 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.

Rede D'Or São Luiz

Market Cap: R$86.7b

Operates a network of hospitals in Brazil.

Hana Financial Group

Market Cap: ₩22.2t

Through its subsidiaries, provides financial services in South Korea.

SDIC Power Holdings

Market Cap: CN¥113.7b

Engages in the electricity generation business in China.

Ambuja Cements

Market Cap: ₹1.4t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Bank of Hangzhou

Market Cap: CN¥113.3b

Provides various banking products and services to individuals, corporate, and small and micro businesses in China.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$85.3b

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

Kansai Electric Power Company

Market Cap: JP¥2.3t

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

Tryg

Market Cap: DKK 100.1b

Provides insurance products and services for private and corporate customers, and small and medium-sized businesses in Denmark, Sweden, the United Kingdom, and Norway.

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق57.1b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Celsius Holdings

Market Cap: US$15.7b

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

Fortum Oyj

Market Cap: €13.2b

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.

Jiangsu Yanghe Distillery

Market Cap: CN¥110.0b

Offers liquors and wines.

Banco de Chile

Market Cap: CL$14.6t

Operates as a commercial bank that provides banking services in Chile.

Huaneng Power International

Market Cap: HK$118.4b

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

Smoore International Holdings

Market Cap: HK$118.3b

An investment holding company, engages in the provision of vaping technology solutions.

Vodacom Group

Market Cap: R266.6b

Provides communications products and services.

Metro

Market Cap: CA$21.0b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Kerry Group

Market Cap: €12.8b

Provides taste and nutrition solutions.

Suncorp Group

Market Cap: AU$23.0b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$1.9b

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

AST SpaceMobile

Market Cap: US$15.0b

Designs and develops the constellation of BlueBird satellites in the United States.

Telia Company

Market Cap: SEK 140.8b

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

East West Bancorp

Market Cap: US$15.0b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

GigaDevice Semiconductor

Market Cap: CN¥106.0b

Engages in the research, development, technical support, and sale of memory, microcontrollers, and sensors.

Hologic

Market Cap: US$14.8b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

Grupo Bimbo. de

Market Cap: Mex$272.1b

Produces, distributes, and sells various bakery products.

Powszechny Zaklad Ubezpieczen

Market Cap: zł52.7b

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

Uni-President Enterprises

Market Cap: NT$443.8b

Engages in the manufacture and marketing of food products in Taiwan and internationally.

MTN Group

Market Cap: R255.5b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.