Kuwaiti Materials Defensive Blue Chips

Bankinter

Market Cap: €11.7b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Nanya Technology

Market Cap: NT$416.8b

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

Kasikornbank

Market Cap: ฿439.5b

Provides commercial banking products and services in Thailand and internationally.

SCB X

Market Cap: ฿439.4b

Engages banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Elia Group

Market Cap: €11.7b

Develops and operates as a transmission system operator in Belgium and Germany.

Guangdong Haid Group

Market Cap: CN¥96.2b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

Banco Comercial Português

Market Cap: €11.7b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

BE Semiconductor Industries

Market Cap: €11.7b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

First Financial Holding

Market Cap: NT$412.0b

Through its subsidiaries, provides various financial products and services in Taiwan, Asia, America, Europe, Oceania, and internationally.

NMBZ Holdings

Market Cap: US$1.7b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

Brown-Forman

Market Cap: US$13.3b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Banco Santander-Chile

Market Cap: CL$12.5t

Provides commercial and retail banking products and services in Chile.

Hua Nan Financial Holdings

Market Cap: NT$407.8b

Provides financial services in Taiwan and internationally.

Helvetia Holding

Market Cap: CHF 10.6b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

Almarai

Market Cap: ر.س49.3b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Tata Consumer Products

Market Cap: ₹1.2t

Produces, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Adani Energy Solutions

Market Cap: ₹1.2t

Generates, transmits, and distributes power in India.

Samsung Fire & Marine Insurance

Market Cap: ₩18.7t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Mashreqbank PSC

Market Cap: د.إ47.9b

Provides various banking and financial services to individuals and corporates.

Admiral Group

Market Cap: UK£9.9b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, Spain, and the United States.

Hormel Foods

Market Cap: US$13.0b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

ACM Research (Shanghai)

Market Cap: CN¥92.4b

Engages in the research, development, production, and sale of semiconductor equipment in China.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Arab National Bank

Market Cap: ر.س48.5b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Woori Financial Group

Market Cap: ₩18.5t

Operates as a commercial bank which provides various financial services to individual, business, and institutional customers in Korea.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Airtel Africa

Market Cap: UK£9.8b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Piotech

Market Cap: CN¥91.5b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

Hon. Precision

Market Cap: NT$394.3b

Engages in the manufacture and sale of machinery and related components, automatic control equipment engineering, and machinery installations in Taiwan.

Turkiye Garanti Bankasi

Market Cap: ₺537.6b

Provides various banking products and services in Turkey.

Everest Group

Market Cap: US$12.8b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

ageas

Market Cap: €11.0b

Engages in insurance business.

Encompass Health

Market Cap: US$12.7b

Provides post-acute healthcare services in the United States and Puerto Rico.

Unum Group

Market Cap: US$12.7b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

CP ALL

Market Cap: ฿412.3b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Telecom Italia

Market Cap: €11.0b

Engages in the fixed and mobile telecommunications services in Italy and internationally.