Italian Software Defensive Blue Chips

Avenue Supermarts

Market Cap: ₹2.4t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Resona Holdings

Market Cap: JP¥4.1t

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

Markel Group

Market Cap: US$25.8b

Through its subsidiaries, engages in the insurance business in the United States and internationally.

STMicroelectronics

Market Cap: €21.9b

Designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

United Microelectronics

Market Cap: NT$813.6b

Operates as a semiconductor wafer foundry in Taiwan, China, Hong Kong, Japan, Korea, the United States, Europe, and internationally.

Power Grid Corporation of India

Market Cap: ₹2.4t

An electric power transmission utility, engages in the power transmission business in India and internationally.

First Solar

Market Cap: US$25.7b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

American Water Works Company

Market Cap: US$25.7b

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

W. R. Berkley

Market Cap: US$25.7b

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

Bank of Jiangsu

Market Cap: CN¥178.6b

Provides various banking products and services in China.

STERIS

Market Cap: US$25.6b

Provides infection prevention products and services worldwide.

Aviva

Market Cap: UK£18.8b

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

China Tower

Market Cap: HK$198.9b

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

Woolworths Group

Market Cap: AU$37.1b

Operates retail stores in Australia and New Zealand.

ON Semiconductor

Market Cap: US$25.4b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

BNP Paribas Fortis

Market Cap: €21.6b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Banco do Brasil

Market Cap: R$133.9b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Dollar Tree

Market Cap: US$25.2b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

VERBUND

Market Cap: €21.3b

Generates, trades in, and sells electricity to energy exchange markets, traders, electric utilities and industrial companies, and household and commercial customers in Austria and internationally.

BT Group

Market Cap: UK£18.4b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

GlobalFoundries

Market Cap: US$25.0b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide.

Dr. Sulaiman Al Habib Medical Services Group

Market Cap: ر.س93.5b

Provides private health and ancillary services.

Banco Santander (Brasil)

Market Cap: R$131.3b

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

Cincinnati Financial

Market Cap: US$24.7b

Provides property casualty insurance products in the United States.

Regions Financial

Market Cap: US$24.6b

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

Credo Technology Group Holding

Market Cap: US$24.4b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Huaneng Lancang River Hydropower

Market Cap: CN¥169.5b

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

Inner Mongolia Yili Industrial Group

Market Cap: CN¥169.0b

Inner Mongolia Yili Industrial Group Co., Ltd.

Banco de Crédito del Perú

Market Cap: S/81.1b

Provides banking products and services to individuals, small and medium-sized enterprises (SME), and companies in Peru, Panama, and the United States.

Sigma Healthcare

Market Cap: AU$35.2b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

CLP Holdings

Market Cap: HK$185.9b

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

KeyCorp

Market Cap: US$23.8b

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

Luzhou LaojiaoLtd

Market Cap: CN¥164.9b

Produces and sells alcoholic products in China and internationally.

China Minsheng Banking

Market Cap: CN¥161.8b

Provides banking products and services in the People's Republic of China.

Yihai Kerry Arawana Holdings

Market Cap: CN¥161.7b

Engages in the agriculture and food processing businesses in China.

AIB Group

Market Cap: €19.6b

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