South Korean Software Defensive Blue Chips

BOC Hong Kong (Holdings)

Market Cap: HK$436.7b

An investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally.

Société Générale Société anonyme

Market Cap: €48.4b

Provides banking and financial services to individuals, corporates, and institutional clients in Europe and internationally.

Alimentation Couche-Tard

Market Cap: CA$74.8b

Operates and licenses convenience stores in North America, Europe, and Asia.

Life Insurance Corporation of India

Market Cap: ₹5.0t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

FBC Holdings

Market Cap: US$7.0b

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

Wal-Mart de México. de

Market Cap: Mex$968.5b

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

Arthur J. Gallagher

Market Cap: US$53.9b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Target

Market Cap: US$53.8b

Operates as a general merchandise retailer in the United States.

Allstate

Market Cap: US$53.4b

Provides property and casualty, and other insurance products in the United States and Canada.

Loblaw Companies

Market Cap: CA$72.6b

A food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services in Canada and the United States.

Monolithic Power Systems

Market Cap: US$52.6b

Provides semiconductor-based power electronics solutions in China, Taiwan, South Korea, Southeast Asia, Europe, the United States, Japan, and internationally.

Orange

Market Cap: €45.7b

Operates as a telecommunications operator in France and internationally.

National Bank of Canada

Market Cap: CA$71.4b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Barito Renewables Energy

Market Cap: Rp879.6t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Danone

Market Cap: €45.0b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

First Abu Dhabi Bank P.J.S.C

Market Cap: د.إ189.8b

Provides various banking products and services in the United Arab Emirates, Europe, Arab countries, the Americas, Asia, and internationally.

China Pacific Insurance (Group)

Market Cap: CN¥353.1b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

People's Insurance Company (Group) of China

Market Cap: HK$400.2b

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

Cardinal Health

Market Cap: US$50.7b

Operates as a healthcare services and products company in the United States and internationally.

NXP Semiconductors

Market Cap: US$50.5b

Provides semiconductor products in the United States, Germany, Japan, South Korea, Taiwan, Singapore, the Netherlands, Mainland China, Hong Kong, and internationally.

Siemens Healthineers

Market Cap: €43.5b

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.

Bank Central Asia

Market Cap: Rp848.8t

Provides commercial banking and other financial services.

Edwards Lifesciences

Market Cap: US$49.4b

Provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, 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.

KBC Group

Market Cap: €42.8b

Provides banking, insurance, and asset management services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Shanghai Pudong Development Bank

Market Cap: CN¥339.1b

Shanghai Pudong Development Bank Co., Ltd.

Emirates NBD Bank PJSC

Market Cap: د.إ179.1b

Engages in the provision of corporate, institutional, retail, treasury, and Islamic banking services.

Disco

Market Cap: JP¥7.7t

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

Swiss Re

Market Cap: CHF 37.9b

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

NAURA Technology Group

Market Cap: CN¥332.0b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

IDEXX Laboratories

Market Cap: US$47.8b

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

Standard Chartered

Market Cap: UK£35.6b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.

Teradyne

Market Cap: US$47.3b

Engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Swisscom

Market Cap: CHF 36.8b

Provides telecommunication services in Switzerland, Italy, and internationally.

United Overseas Bank

Market Cap: S$59.8b

Provides banking products and services worldwide.

Becton Dickinson

Market Cap: US$46.5b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.