Luxembourg Software Defensive Blue Chips

Bank of Beijing

Market Cap: CN¥111.4b

Provides various banking services to individuals and corporates in China.

Saudi Electricity

Market Cap: ر.س60.0b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Cooper Companies

Market Cap: US$15.9b

Develops, manufactures, and markets contact lens wearers.

National Bank of Greece

Market Cap: €13.4b

Provides financial products and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom.

FinecoBank Banca Fineco

Market Cap: €13.3b

Provides banking, credit, trading and investment services in Italy.

Shanghai United Imaging Healthcare

Market Cap: CN¥109.8b

Shanghai United Imaging Healthcare Co., Ltd.

Santander Bank Polska

Market Cap: zł55.9b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Asahi Group Holdings

Market Cap: JP¥2.4t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Grupo Financiero Inbursa. de

Market Cap: Mex$271.6b

Provides various financial products and services to individuals and businesses in Mexico.

Banco Comercial Português

Market Cap: €13.2b

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

Metro

Market Cap: CA$21.2b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Bank Polska Kasa Opieki

Market Cap: zł54.7b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Hippo Valley Estates

Market Cap: US$2.0b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Britannia Industries

Market Cap: ₹1.4t

Manufactures and sells various food products in India and internationally.

East West Bancorp

Market Cap: US$15.3b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Huaneng Power International

Market Cap: HK$118.6b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

SDIC Power Holdings

Market Cap: CN¥105.4b

Engages in the electricity generation business in China.

Raiffeisen Bank International

Market Cap: €12.8b

Offers banking services to corporate, private, and institutional customers.

Aier Eye Hospital Group

Market Cap: CN¥105.1b

Operates as a ophthalmology chain medical company in China, Hong Kong, Europe, the United States, and Southeast Asia.

Telecom Italia

Market Cap: €12.7b

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

Wens Foodstuff Group

Market Cap: CN¥104.8b

Operates as an agricultural and animal husbandry company in China.

Jerónimo Martins SGPS

Market Cap: €12.7b

Operates in the food distribution and specialized retail sectors in Portugal, Poland, Colombia, and internationally.

Punjab National Bank

Market Cap: ₹1.4t

Provides various banking and financial products and services in India and internationally.

Canara Bank

Market Cap: ₹1.4t

Provides various banking products and services in India and internationally.

Woori Financial Group

Market Cap: ₩21.6t

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

Xi'an ESWIN Material Technology

Market Cap: CN¥103.7b

Xi'an ESWIN Material Technology Co., Ltd.

Bankinter

Market Cap: €12.6b

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

Elia Group

Market Cap: €12.6b

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

Tokyo GasLtd

Market Cap: JP¥2.3t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Performance Food Group

Market Cap: US$14.7b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

ASR Nederland

Market Cap: €12.4b

Provides insurance, pensions, and mortgages products and services for consumers, entrepreneurs, and employers in the Netherlands.

WH Group

Market Cap: HK$114.6b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

Hua Nan Financial Holdings

Market Cap: NT$462.0b

Provides financial services in Taiwan and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺635.5b

Provides various banking products and services in Turkey.

SCB X

Market Cap: ฿454.6b

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

Pinnacle Financial Partners

Market Cap: US$14.6b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.