Italian Commercial Services Defensive Blue Chips

Carrefour

Market Cap: €9.2b

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

Marico

Market Cap: ₹948.8b

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

Komercní banka

Market Cap: Kč221.9b

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

Hippo Valley Estates

Market Cap: US$1.4b

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

Ensign Group

Market Cap: US$10.6b

Provides skilled nursing, senior living, and rehabilitative services.

Globe Life

Market Cap: US$10.6b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Hong Leong Bank Berhad

Market Cap: RM 43.6b

Operates as a financial services company in Malaysia and internationally.

ACM Research (Shanghai)

Market Cap: CN¥74.6b

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

Waaree Energies

Market Cap: ₹937.9b

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

Bank of the Philippine Islands

Market Cap: ₱618.2b

Provides various financial products and services to retail and corporate clients in the Philippines.

Bank Albilad

Market Cap: ر.س39.4b

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

Orkla

Market Cap: NOK 107.0b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Phoenix Financial

Market Cap: ₪34.1b

Provides multi-line insurance products in Israel.

Taiwan Mobile

Market Cap: NT$325.1b

Provides wireless communication services in Taiwan, the Republic of China, and internationally.

T&D Holdings

Market Cap: JP¥1.6t

Through its subsidiaries, provides insurance products and services in Japan.

Align Technology

Market Cap: US$10.3b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Rockchip Electronics

Market Cap: CN¥72.9b

Operates as a fabless IC design company in China.

CPFL Energia

Market Cap: R$55.4b

Through its subsidiaries, operates as an energy company in Brazil.

Enel Américas

Market Cap: CL$9.6t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

Far EasTone Telecommunications

Market Cap: NT$320.9b

Engages in the provision of telecommunications and digital application services in Taiwan.

Chongqing Rural Commercial Bank

Market Cap: HK$79.4b

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

Boubyan Bank K.S.C.P

Market Cap: د.ك3.1b

Provides various banking products and services in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

BAWAG Group

Market Cap: €8.8b

Operates as a holding company for BAWAG P.S.K.

Huadong Medicine

Market Cap: CN¥71.7b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Bank of Chengdu

Market Cap: CN¥71.7b

Provides various commercial banking products and services in China.

Banque Cantonale Vaudoise

Market Cap: CHF 8.2b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥71.3b

Beijing E-Town Semiconductor Technology Co., Ltd.

Piraeus Financial Holdings

Market Cap: €8.7b

Provides banking products and services in Greece and internationally.