Luxembourg Utilities Defensive Blue Chips

China Jushi

Market Cap: CN¥163.0b

Manufactures and sells fiberglass and related products in China and internationally.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp429.1t

Provides various banking products and services in Indonesia and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥162.0b

Inner Mongolia Yili Industrial Group Co., Ltd.

MTN Group

Market Cap: R393.1b

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

KeyCorp

Market Cap: US$23.7b

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

Aeon

Market Cap: JP¥3.8t

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

Principal Financial Group

Market Cap: US$23.6b

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

CLP Holdings

Market Cap: HK$184.6b

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

Terna

Market Cap: €20.4b

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

VERBUND

Market Cap: €20.3b

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

Banco de Crédito del Perú

Market Cap: S/79.5b

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

Technoprobe

Market Cap: €20.1b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Mediobanca Banca di Credito Finanziario

Market Cap: €19.8b

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

Public Bank Berhad

Market Cap: RM 92.8b

Provides banking products and services.

Markel Group

Market Cap: US$22.8b

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

TS Financial Holding

Market Cap: NT$714.9b

Provides various financial products and services.

Coles Group

Market Cap: AU$32.3b

Operates as a retailer in Australia.

Quest Diagnostics

Market Cap: US$22.6b

Provides diagnostic testing and services in the United States.

BIWIN Storage Technology

Market Cap: CN¥152.7b

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

Lasertec

Market Cap: JP¥3.6t

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

China Minsheng Banking

Market Cap: CN¥151.6b

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

Winbond Electronics

Market Cap: NT$704.3b

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

Loews

Market Cap: US$22.2b

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

Bank Mandiri (Persero)

Market Cap: Rp396.3t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

Coca-Cola HBC

Market Cap: UK£16.5b

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.

Cellnex Telecom

Market Cap: €19.1b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

Labcorp Holdings

Market Cap: US$22.0b

Provides laboratory services.

Coca-Cola FEMSA. de

Market Cap: US$21.9b

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

Uniper

Market Cap: €18.9b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥147.3b

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

NN Group

Market Cap: €18.8b

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

Sigma Healthcare

Market Cap: AU$30.9b

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

China Tower

Market Cap: HK$168.9b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥145.9b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Telenor

Market Cap: NOK 203.5b

Operates as a telecommunication company worldwide.

Riyad Bank

Market Cap: ر.س80.1b

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