Italian Energy Defensive Blue Chips

Far EasTone Telecommunications

Market Cap: NT$319.1b

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

Baloise Holding

Market Cap: CHF 8.8b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, Luxembourg.

Carrefour

Market Cap: €9.4b

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

Enel Américas

Market Cap: CL$10.0t

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

KGI Financial Holding

Market Cap: NT$318.1b

Engages in the commercial banking, securities, venture capital, and insurance businesses in Taiwan and internationally.

ING Bank Slaski

Market Cap: zł39.7b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Bangkok Dusit Medical Services

Market Cap: ฿343.3b

Operates hospitals in Thailand and internationally.

Novatek Microelectronics

Market Cap: NT$314.6b

Engages in research and development, manufacture, and sale of integrated circuit chips for speech, communication, computer peripheral, LCD driver IC system, embedded MCU, DSP, and system applications in Taiwan, Asia, and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م97.4b

Provides various telecommunication solutions in Morocco and internationally.

Anhui Gujing Distillery

Market Cap: CN¥75.5b

Engages in the production and sale of distilled wine in the People’s Republic of China and internationally.

Bunge Global

Market Cap: US$10.5b

Operates as an agribusiness and food company worldwide.

Credo Technology Group Holding

Market Cap: US$10.5b

Provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Marks and Spencer Group

Market Cap: UK£7.8b

Operates various retail stores.

Sysmex

Market Cap: JP¥1.5t

Engages in the development, manufacture, and sale of diagnostic instruments, reagents, and related software in Japan.

Giga Device Semiconductor

Market Cap: CN¥75.4b

A fabless company, engages in development of memory technologies, microcontrollers (MCUs), sensor, analog products, and solutions.

Bharti Hexacom

Market Cap: ₹892.5b

Provides mobile services, fixed-line telephone, and broadband services to end consumers and business customers under the Airtel brand in India.

Bank Albilad

Market Cap: ر.س39.2b

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

DaVita

Market Cap: US$10.4b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Skyworks Solutions

Market Cap: US$10.4b

Designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific.

Israel Discount Bank

Market Cap: ₪36.9b

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

Penumbra

Market Cap: US$10.4b

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

Tele2

Market Cap: SEK 99.7b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Centrica

Market Cap: UK£7.7b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

Huadong Medicine

Market Cap: CN¥74.4b

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

Banca Monte dei Paschi di Siena

Market Cap: €9.1b

Engages in the provision of retail and commercial banking services in Italy.

Bank Negara Indonesia (Persero)

Market Cap: Rp167.3t

Provides various banking products and services in Indonesia, rest of Asia, New York, and Europe.

Grupo Financiero Galicia

Market Cap: AR$11.8t

A financial service holding company, provides various financial products and services to individuals and companies in Argentina.

Sanlam

Market Cap: R181.8b

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

American Financial Group

Market Cap: US$10.2b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Banque Cantonale Vaudoise

Market Cap: CHF 8.4b

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

First Horizon

Market Cap: US$10.0b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Osaka Gas

Market Cap: JP¥1.4t

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

Suntory Beverage & Food

Market Cap: JP¥1.4t

Engages in manufacture and sale of alcoholic and non-alcoholic beverages, and foods in Japan, Asia-Pacific, Europe, and the Americas.