Luxembourg Consumer Services Defensive Blue Chips

Standard Bank Group

Market Cap: R516.4b

Provides financial products and services in South Africa and internationally.

Tower Semiconductor

Market Cap: US$31.0b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Casey's General Stores

Market Cap: US$30.8b

Operates convenience stores under the Casey's and Casey’s General Store names in the United States.

Amrize

Market Cap: CHF 24.7b

Engages in the provision of various building solutions for infrastructure, commercial, and residential construction markets in North America and Canada.

Swiss Life Holding

Market Cap: CHF 24.6b

Provides life, pensions, and financial solutions for private and corporate clients.

Avenue Supermarts

Market Cap: ₹2.9t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Bank of Jiangsu

Market Cap: CN¥205.4b

Provides various banking products and services in China.

Bank Hapoalim B.M

Market Cap: ₪90.3b

Provides various banking and financial services in Israel, North America, Europe, and internationally.

Ping An Bank

Market Cap: CN¥204.0b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Bank of Ningbo

Market Cap: CN¥203.7b

Provides various personal and business banking products and services in the People's Republic of China.

Foshan Haitian Flavouring and Food

Market Cap: CN¥201.9b

Foshan Haitian Flavouring and Food Company Ltd.

Veolia Environnement

Market Cap: €26.1b

Designs and provides water, waste, and energy management solutions.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$3.8b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Ørsted

Market Cap: DKK 194.6b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Resona Holdings

Market Cap: JP¥4.8t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

GE HealthCare Technologies

Market Cap: US$29.5b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

AXIA Energia

Market Cap: R$153.2b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Shinhan Financial Group

Market Cap: ₩45.4t

Provides financial products and services in South Korea, Vietnam, and Japan.

Credicorp

Market Cap: US$29.3b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Citizens Financial Group

Market Cap: US$29.2b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

Winbond Electronics

Market Cap: NT$922.5b

Engages in the research, development, production and sales of integrated circuits, various semiconductor components and other system products.

Naturgy Energy Group

Market Cap: €25.5b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

BIWIN Storage Technology

Market Cap: CN¥196.3b

Engages in the research and development, design, packaging, testing, production, and sales of semiconductor memory.

Svenska Handelsbanken

Market Cap: SEK 280.9b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Grupo Financiero Banorte. de

Market Cap: Mex$506.1b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Xi'an ESWIN Material Technology

Market Cap: CN¥195.3b

Xi'an ESWIN Material Technology Co., Ltd.

Power Grid Corporation of India

Market Cap: ₹2.7t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥194.5b

Researches and develops, produces, and sells integrated circuit equipment in China and internationally.

Atmos Energy

Market Cap: US$28.6b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

ACM Research (Shanghai)

Market Cap: CN¥193.9b

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

MACOM Technology Solutions Holdings

Market Cap: US$28.5b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

Nestlé India

Market Cap: ₹2.7t

Engages in the manufacture and sale of food products in India and internationally.

AST SpaceMobile

Market Cap: US$28.3b

Designs and develops the constellation of BlueBird satellites in the United States.

Lasertec

Market Cap: JP¥4.5t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 22.6b

Engages in the development, manufacture, and sale of chocolate products worldwide.

ResMed

Market Cap: US$27.6b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.