Luxembourg Software Defensive Blue Chips

Aeon

Market Cap: JP¥6.2t

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

American International Group

Market Cap: US$39.0b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

Grupo Nutresa S. A

Market Cap: Col$140.7t

Operates in the food industry in Colombia, Latin America, and internationally.

Hershey

Market Cap: US$38.7b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

SSE

Market Cap: UK£27.9b

Engages in the generation, transmission, distribution, and supply of electricity.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.9t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

GE HealthCare Technologies

Market Cap: US$37.3b

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.

Consolidated Edison

Market Cap: US$37.2b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

ResMed

Market Cap: US$37.2b

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.

Endesa

Market Cap: €31.6b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Hang Seng Bank

Market Cap: HK$289.0b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Veeva Systems

Market Cap: US$37.0b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Fairfax Financial Holdings

Market Cap: CA$50.7b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, the Middle East, Asia, and internationally.

Sysco

Market Cap: US$36.8b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

ACWA Power

Market Cap: ر.س137.7b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

QNB Bank

Market Cap: ₺1.6t

Provides various banking products and services in Turkey.

Telstra Group

Market Cap: AU$53.1b

Provides telecommunications and information services in Australia and internationally.

Huadian New Energy Group

Market Cap: CN¥252.4b

Engages in the power generation business in China.

Hartford Insurance Group

Market Cap: US$36.2b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

Teradyne

Market Cap: US$35.9b

Designs, develops, manufactures, and sells automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Cathay Financial Holding

Market Cap: NT$1.1t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Tesco

Market Cap: UK£26.3b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Bank Leumi le-Israel B.M

Market Cap: ₪111.5b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

Muyuan Foods

Market Cap: CN¥247.0b

Operates in the hog industry in China.

Sun Life Financial

Market Cap: CA$47.8b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Koninklijke Ahold Delhaize

Market Cap: €29.3b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Fomento Económico Mexicano. de

Market Cap: Mex$597.4b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

Malayan Banking Berhad

Market Cap: RM 137.2b

Provides commercial banking and related financial products and services.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp579.8t

Provides various banking products and services in Indonesia and internationally.

Intact Financial

Market Cap: CA$46.6b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥236.4b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥235.0b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Advanced Info Service

Market Cap: ฿1.0t

Operates as a telecommunications and technology company primarily in Thailand.

Hannover Rück

Market Cap: €28.4b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Fifth Third Bancorp

Market Cap: US$33.5b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.

Seven & i Holdings

Market Cap: JP¥5.2t

Operates convenience stores, superstores, and department stores in Japan, North America, and internationally.