Icelandic Software Defensive Blue Chips

East West Bancorp

Market Cap: US$16.6b

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.

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

Market Cap: ر.ق59.6b

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

Talen Energy

Market Cap: US$16.4b

An independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States.

NMBZ Holdings

Market Cap: US$2.1b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

WH Group

Market Cap: HK$126.4b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

Unipol Assicurazioni

Market Cap: €13.6b

Provides insurance products and services primarily in Italy.

National Bank of Greece

Market Cap: €13.6b

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

Osaka Gas

Market Cap: JP¥2.5t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Attijariwafa bank

Market Cap: د.م147.1b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Asahi Group Holdings

Market Cap: JP¥2.5t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

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.

Grupo Financiero Inbursa. de

Market Cap: Mex$275.2b

Provides various financial products and services to individuals and businesses in Mexico.

BE Semiconductor Industries

Market Cap: €13.5b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

Britannia Industries

Market Cap: ₹1.4t

Manufactures and sells various food products in India and internationally.

Cooper Companies

Market Cap: US$16.0b

Develops, manufactures, and markets contact lens wearers.

Israel Discount Bank

Market Cap: ₪48.8b

Provides various banking and financial services in Israel, Europe, and North America.

Samsung Fire & Marine Insurance

Market Cap: ₩23.0t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Banco Comercial Português

Market Cap: €13.3b

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

Saudi Electricity

Market Cap: ر.س59.0b

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

Jerónimo Martins SGPS

Market Cap: €13.2b

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

Punjab National Bank

Market Cap: ₹1.4t

Provides various banking and financial products and services in India and internationally.

Sonova Holding

Market Cap: CHF 11.9b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Fidelity National Financial

Market Cap: US$15.4b

Provides various insurance products in the United States.

Tower Semiconductor

Market Cap: US$15.4b

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

Hua Xia Bank

Market Cap: CN¥106.2b

Provides commercial banking services in China and Hong Kong.

ING Bank Slaski

Market Cap: zł54.5b

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

Hua Nan Financial Holdings

Market Cap: NT$481.5b

Provides financial services in Taiwan and internationally.

Shanghai United Imaging Healthcare

Market Cap: CN¥105.4b

Shanghai United Imaging Healthcare Co., Ltd.

James Hardie Industries

Market Cap: AU$21.4b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Wens Foodstuff Group

Market Cap: CN¥104.9b

Operates as an agricultural and animal husbandry company in China.

Union Bank of India

Market Cap: ₹1.4t

Provides banking products and services in India.

SCB X

Market Cap: ฿469.7b

Engages banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Winbond Electronics

Market Cap: NT$474.8b

Engages in the design, development, manufacture, and marketing of very large scale integration integrated circuits (ICs) for various microelectronic applications in Asia, the Americas, Europe, and internationally.

Bankinter

Market Cap: €12.7b

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

SDIC Power Holdings

Market Cap: CN¥103.8b

Engages in the electricity generation business in China.

Pinnacle Financial Partners

Market Cap: US$15.0b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.