South Korean Materials Defensive Blue Chips

Banque Saudi Fransi

Market Cap: ر.س40.6b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م100.1b

Provides various telecommunication solutions in Morocco and internationally.

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.

Acciona

Market Cap: €9.3b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

M3

Market Cap: JP¥1.7t

Provides medical-related services to physicians and other healthcare professionals through the internet.

Komercní banka

Market Cap: Kč221.9b

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

Bank of the Philippine Islands

Market Cap: ₱623.0b

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

Orkla

Market Cap: NOK 107.4b

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.

Shree Cement

Market Cap: ₹953.1b

Engages in the manufacture and sale of cement and clinker in India and internationally.

Huadong Medicine

Market Cap: CN¥74.9b

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

Smoore International Holdings

Market Cap: HK$82.4b

An investment holding company, engages in the provision of vaping technology solutions.

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.

Banque Cantonale Vaudoise

Market Cap: CHF 8.5b

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

Align Technology

Market Cap: US$10.5b

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

CPFL Energia

Market Cap: R$56.2b

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

Hong Leong Bank Berhad

Market Cap: RM 43.1b

Operates as a financial services company in Malaysia and internationally.

Enel Américas

Market Cap: CL$9.7t

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

Bank Permata

Market Cap: Rp173.3t

Provides various banking products and services in Indonesia.

Chongqing Rural Commercial Bank

Market Cap: HK$81.0b

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

BAWAG Group

Market Cap: €8.9b

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

Marico

Market Cap: ₹933.2b

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

Phoenix Financial

Market Cap: ₪33.8b

Provides multi-line insurance products in Israel.

Japan Post Insurance

Market Cap: JP¥1.6t

Provides life insurance products and services in Japan.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥73.3b

Beijing E-Town Semiconductor Technology Co., Ltd.

Bank Albilad

Market Cap: ر.س38.9b

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

Taiwan Mobile

Market Cap: NT$323.6b

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

Bank of Chengdu

Market Cap: CN¥72.8b

Provides various commercial banking products and services in China.

Comerica

Market Cap: US$10.3b

Provides financial services in the United States, Canada, and Mexico.

Piraeus Financial Holdings

Market Cap: €8.8b

Provides banking products and services in Greece and internationally.

ENN Energy Holdings

Market Cap: HK$79.9b

An investment holding company, engages in the investment, construction, operation, and management of gas pipeline infrastructure in the People’s Republic of China.

Absa Group

Market Cap: R175.0b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Centrica

Market Cap: UK£7.7b

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

Waaree Energies

Market Cap: ₹914.7b

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

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.

Far EasTone Telecommunications

Market Cap: NT$318.7b

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