South Korean Consumer Durables Defensive Blue Chips

Orange

Market Cap: €43.8b

Operates as a telecommunications operator in France and internationally.

Renesas Electronics

Market Cap: JP¥8.1t

Engages in the design, research, development, manufacturing, sale, and service of semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Swiss Re

Market Cap: CHF 40.0b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Disco

Market Cap: JP¥8.0t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Humana

Market Cap: US$48.8b

Provides medical and specialty insurance products in the United States.

Wal-Mart de México. de

Market Cap: Mex$849.1b

Owns and operates self-service stores in Mexico and Central America.

Hua Hong Grace Semiconductor

Market Cap: HK$381.5b

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

Ambev

Market Cap: R$245.3b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ176.9b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Commerzbank

Market Cap: €42.1b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, and Asia.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.8b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

FBC Holdings

Market Cap: US$6.1b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Microchip Technology

Market Cap: US$47.3b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Endesa

Market Cap: €41.4b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Coca-Cola Europacific Partners

Market Cap: €41.0b

Produces, distributes, and sells a range of non-alcoholic ready-to-drink beverages.

SJ Semiconductor

Market Cap: CN¥316.7b

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

Heineken

Market Cap: €40.8b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

Danske Bank

Market Cap: DKK 303.2b

Provides various banking products and services to corporate, institutional, and international clients.

RWE

Market Cap: €40.5b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Nanya Technology

Market Cap: NT$1.5t

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

Cerebras Systems

Market Cap: US$46.2b

Operates as an artificial intelligence infrastructure company.

Montage Technology

Market Cap: CN¥310.2b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and AI infrastructure in the People’s Republic of China.

Shanghai Pudong Development Bank

Market Cap: CN¥310.1b

Provides commercial banking products and services in China and internationally.

Diageo

Market Cap: UK£33.7b

Engages in the production, marketing, and distribution of alcoholic beverages in North America, Europe, the Asia Pacific, Latin America and Caribbean, and Africa.

Moore Threads Technology

Market Cap: CN¥304.7b

Engages in the development of GPU chips and related products.

People's Insurance Company (Group) of China

Market Cap: HK$349.6b

An investment holding company, offers insurance products and services in the People’s Republic of China and Hong Kong.

IDEXX Laboratories

Market Cap: US$44.5b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

DNB Bank

Market Cap: NOK 429.8b

Provides financial services to individuals and businesses in Norway and internationally.

Sun Life Financial

Market Cap: CA$62.0b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Credo Technology Group Holding

Market Cap: US$44.0b

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

Cathay Financial Holding

Market Cap: NT$1.4t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Adani Power

Market Cap: ₹4.2t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Wuliangye YibinLtd

Market Cap: CN¥296.6b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

Siemens Healthineers

Market Cap: €38.2b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

KB Financial Group

Market Cap: ₩64.4t

Provides financial products and services in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.