Italian Materials Defensive Blue Chips

George Weston

Market Cap: CA$36.5b

Provides food and drug retailing, and financial services in Canada.

Credicorp

Market Cap: US$26.7b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Huaneng Lancang River Hydropower

Market Cap: CN¥181.3b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

National Bank of KuwaitK.P

Market Cap: د.ك8.2b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Kraft Heinz

Market Cap: US$26.3b

Manufactures and markets food and beverage products in North America and internationally.

Telefônica Brasil

Market Cap: R$131.1b

Operates as a mobile telecommunications company in Brazil.

Aviva

Market Cap: UK£19.4b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

Resona Holdings

Market Cap: JP¥4.2t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

New China Life Insurance

Market Cap: CN¥177.8b

Provides life insurance products and services to individuals and institutions in China.

American Water Works Company

Market Cap: US$26.0b

Through its subsidiaries, provides water and wastewater services in the United States.

Snam

Market Cap: €22.2b

Engages in the operation of natural gas transport and storage infrastructure.

SJ Semiconductor

Market Cap: CN¥177.0b

Operates as an integrated circuit wafer-level advanced packaging and testing company in China and internationally.

Telefónica

Market Cap: €22.0b

Provides telecommunications services in Europe and Latin America.

Cincinnati Financial

Market Cap: US$25.8b

Provides property casualty insurance products in the United States.

VERBUND

Market Cap: €21.9b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Bank Mandiri (Persero)

Market Cap: Rp442.9t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

Tower Semiconductor

Market Cap: US$25.3b

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

Humana

Market Cap: US$25.3b

Provides medical and specialty insurance products in the United States.

Lasertec

Market Cap: JP¥4.0t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

China Tower

Market Cap: HK$196.0b

Provides telecommunication tower infrastructure services in the People's Republic of China.

DexCom

Market Cap: US$24.9b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

Jentech Precision Industrial

Market Cap: NT$783.7b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

W. R. Berkley

Market Cap: US$24.8b

An insurance holding company, operates as a commercial line writer worldwide.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$123.5b

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

Hua Hong Semiconductor

Market Cap: HK$193.1b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, and Europe.

Markel Group

Market Cap: US$24.6b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥167.0b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

AIB Group

Market Cap: €20.7b

Provides banking and financial products and services to personal, business, and corporate customers in the Republic of Ireland, the United Kingdom, and internationally.

CLP Holdings

Market Cap: HK$189.9b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

Regions Financial

Market Cap: US$24.2b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

QBE Insurance Group

Market Cap: AU$33.7b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

KeyCorp

Market Cap: US$24.1b

Operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States.

Telenor

Market Cap: NOK 222.5b

Operates as a telecommunication company worldwide.

First Citizens BancShares

Market Cap: US$23.9b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Bunge Global

Market Cap: US$23.7b

Operates as an agribusiness and food company worldwide.

Banco Santander (Brasil)

Market Cap: R$118.0b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.