Icelandic Software Defensive Blue Chips

Universal Health Services

Market Cap: US$13.7b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

Mashreqbank PSC

Market Cap: د.إ50.2b

Provides various banking and financial services to individuals and corporates.

Zimre Holdings

Market Cap: US$1.8b

Provides insurance, reinsurance, reassurance, and property management and development services in Zimbabwe, Botswana, Malawi, Mozambique, and Zambia.

Nova

Market Cap: US$13.6b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

CP ALL

Market Cap: ฿423.3b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Helvetia Baloise Holding

Market Cap: CHF 10.4b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

Krung Thai Bank

Market Cap: ฿422.8b

Engages in commercial banking business in Thailand and internationally.

Origin Energy

Market Cap: AU$19.1b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

CNA Financial

Market Cap: US$13.5b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

Coca-Cola Consolidated

Market Cap: US$13.5b

Manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Phoenix Financial

Market Cap: ₪41.3b

Provides multi-line insurance products in Israel.

Absa Group

Market Cap: R212.7b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Everest Group

Market Cap: US$13.4b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Penumbra

Market Cap: US$13.4b

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥92.2b

Henan Shuanghui Investment & Development Co.,Ltd.

Piotech

Market Cap: CN¥92.0b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Indus Towers

Market Cap: ₹1.2t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

First Financial Holding

Market Cap: NT$417.0b

Through its subsidiaries, provides various financial products and services in Taiwan, Asia, America, Europe, Oceania, and internationally.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ48.5b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Sanlam

Market Cap: R209.9b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Uni-President Enterprises

Market Cap: NT$415.9b

Produces and sells food products in Taiwan and internationally.

BJ's Wholesale Club Holdings

Market Cap: US$13.1b

Operates membership warehouse clubs on the eastern half of the United States.

bioMérieux

Market Cap: €11.0b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

Fresenius Medical Care

Market Cap: €11.0b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Hong Leong Bank Berhad

Market Cap: RM 51.3b

Operates as a financial services company in Malaysia and internationally.

Celsius Holdings

Market Cap: US$13.0b

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

mBank

Market Cap: zł46.1b

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

Hippo Valley Estates

Market Cap: US$1.7b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

China Jushi

Market Cap: CN¥89.8b

Engages in the manufacture and sale of fiberglass and related products in China and internationally.

Insurance Australia Group

Market Cap: AU$18.3b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Amkor Technology

Market Cap: US$13.0b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Alibaba Health Information Technology

Market Cap: HK$101.4b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

SCREEN Holdings

Market Cap: JP¥2.0t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Suzhou Maxwell Technologies

Market Cap: CN¥89.2b

Engages in the design, research and development, production, and sale of solar cell production equipment in China.

Guangdong Haid Group

Market Cap: CN¥89.1b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.