Luxembourg Consumer Services Defensive Blue Chips

KeyCorp

Market Cap: US$25.0b

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

BT Group

Market Cap: UK£18.9b

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

MTN Group

Market Cap: R412.8b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

TS Financial Holding

Market Cap: NT$792.0b

Provides various financial products and services.

Banco de Crédito del Perú

Market Cap: S/84.6b

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

Willis Towers Watson

Market Cap: US$24.7b

Operates as an advisory, broking, and solutions company worldwide.

QNB Bank

Market Cap: ₺1.1t

Provides various banking and financial services in Turkey.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥167.1b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Constellation Brands

Market Cap: US$24.5b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

BNP Paribas Fortis

Market Cap: €21.5b

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

Huaneng Lancang River Hydropower

Market Cap: CN¥165.6b

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

First Citizens BancShares

Market Cap: US$24.3b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Snam

Market Cap: €21.2b

Engages in the operation of natural gas transport and storage infrastructure.

CLP Holdings

Market Cap: HK$188.9b

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

Bank Rakyat Indonesia (Persero)

Market Cap: Rp429.1t

Provides various banking products and services in Indonesia and internationally.

Mediobanca Banca di Credito Finanziario

Market Cap: €21.1b

Provides various banking products and services in Italy, Other European countries, the United States, Asia, and internationally.

National Bank of KuwaitK.P

Market Cap: د.ك7.4b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Markel Group

Market Cap: US$23.8b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

Telefónica

Market Cap: €20.7b

Provides telecommunications services in Spain, Brazil, Germany, and the United Kingdom.

Terna

Market Cap: €20.5b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Principal Financial Group

Market Cap: US$23.0b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Loews

Market Cap: US$23.0b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Dollar Tree

Market Cap: US$22.9b

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

Coca-Cola HBC

Market Cap: UK£17.3b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥155.7b

Inner Mongolia Yili Industrial Group Co., Ltd.

NN Group

Market Cap: €20.1b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Public Bank Berhad

Market Cap: RM 93.4b

Provides banking products and services.

Quest Diagnostics

Market Cap: US$22.5b

Provides diagnostic testing and services in the United States.

Aeon

Market Cap: JP¥3.6t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

Sigma Healthcare

Market Cap: AU$32.2b

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

Coles Group

Market Cap: AU$32.2b

Operates as a retailer in Australia.

Coca-Cola FEMSA. de

Market Cap: US$22.0b

A franchise bottler, produces, markets, sells, and distributes Coca-Cola trademarked beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Brazil, Argentina, and Uruguay.

VERBUND

Market Cap: €19.3b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Riyad Bank

Market Cap: ر.س82.0b

Provides banking and investment services in the Kingdom of Saudi Arabia.

Labcorp Holdings

Market Cap: US$21.7b

Provides laboratory services.

Banco do Brasil

Market Cap: R$112.6b

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