Luxembourg Software Defensive Blue Chips

Insurance Australia Group

Market Cap: AU$18.9b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

Fidelity National Financial

Market Cap: US$13.1b

Provides various insurance products in the United States.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Yokohama Financial Group

Market Cap: JP¥2.1t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Coca-Cola Consolidated

Market Cap: US$13.0b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Union Bank of India

Market Cap: ₹1.2t

Provides banking products and services in India.

Eastroc Beverage (Group)

Market Cap: CN¥87.5b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Carrefour

Market Cap: €11.2b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Smith & Nephew

Market Cap: UK£9.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Konfoong Materials International

Market Cap: CN¥87.0b

Konfoong Materials International Co., Ltd.

ROHM

Market Cap: JP¥2.1t

Manufactures and sells electronic components worldwide.

CP ALL

Market Cap: ฿425.5b

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

Banque Saudi Fransi

Market Cap: ر.س48.0b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

iA Financial

Market Cap: CA$18.1b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

Anhui Conch Cement

Market Cap: CN¥86.5b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

Banque Cantonale Vaudoise

Market Cap: CHF 10.3b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Etihad Etisalat

Market Cap: ر.س47.6b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Fresenius Medical Care

Market Cap: €11.1b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Semtech

Market Cap: US$12.6b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

KT&G

Market Cap: ₩19.0t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Punjab National Bank

Market Cap: ₹1.2t

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

SG Micro

Market Cap: CN¥85.3b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Penumbra

Market Cap: US$12.5b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Shanghai United Imaging Healthcare

Market Cap: CN¥85.1b

Shanghai United Imaging Healthcare Co., Ltd.

Tokyo GasLtd

Market Cap: JP¥2.0t

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

Almarai

Market Cap: ر.س46.8b

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

Realtek Semiconductor

Market Cap: NT$400.0b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Webster Financial

Market Cap: US$12.4b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

J. M. Smucker

Market Cap: US$12.4b

Manufactures and markets branded food and beverage products worldwide.

Israel Discount Bank

Market Cap: ₪37.5b

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

BUA Foods

Market Cap: ₦16.9t

Processes, manufactures, produces, and distributes food materials in Nigeria.

Sanan OptoelectronicsLtd

Market Cap: CN¥83.7b

Engages in the research, development, production, and sale of compound semiconductor materials and devices in China and internationally.

Rambus

Market Cap: US$12.2b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

First Horizon

Market Cap: US$12.2b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Taiwan Cooperative Financial Holding

Market Cap: NT$390.5b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.