Latvian Utilities Defensive Blue Chips

Bank Hapoalim B.M

Market Cap: ₪90.8b

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

BPER Banca

Market Cap: €26.5b

Engages in the provision of banking products and services for individuals, and businesses and professionals in Italy and internationally.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$3.9b

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

Ajinomoto

Market Cap: JP¥4.9t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

Talanx

Market Cap: €26.1b

Provides insurance and reinsurance products and services worldwide.

Barito Renewables Energy

Market Cap: Rp540.5t

Generates and sells power through geothermal and wind resources in Indonesia.

Shinhan Financial Group

Market Cap: ₩46.0t

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

Swiss Life Holding

Market Cap: CHF 23.8b

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

Foshan Haitian Flavouring and Food

Market Cap: CN¥203.2b

Foshan Haitian Flavouring and Food Company Ltd.

Veolia Environnement

Market Cap: €25.8b

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

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.

Xi'an ESWIN Material Technology

Market Cap: CN¥200.9b

Xi'an ESWIN Material Technology Co., Ltd.

Grupo Financiero Banorte. de

Market Cap: Mex$507.1b

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

Qnity Electronics

Market Cap: US$29.3b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

GE HealthCare Technologies

Market Cap: US$29.0b

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.

DexCom

Market Cap: US$28.9b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

China Unicom (Hong Kong)

Market Cap: HK$225.2b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Nestlé India

Market Cap: ₹2.7t

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

Svenska Handelsbanken

Market Cap: SEK 270.1b

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

Kraft Heinz

Market Cap: US$28.5b

Manufactures and markets food and beverage products in North America and internationally.

Amrize

Market Cap: CHF 22.6b

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

Gulf Development

Market Cap: ฿937.5b

Generates and sells electricity and steam to public and private clients in Thailand and internationally.

Muyuan Foods Group

Market Cap: CN¥192.7b

Operates as a pork company in the hog farming industry in China.

Atmos Energy

Market Cap: US$28.3b

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

BE Semiconductor Industries

Market Cap: €24.4b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

George Weston

Market Cap: CA$39.4b

Provides food and drug retailing, and financial services in Canada.

AXIA Energia

Market Cap: R$143.9b

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

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ103.4b

Provides banking products and services in the United Arab Emirates and internationally.

Seven & i Holdings

Market Cap: JP¥4.5t

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

ResMed

Market Cap: US$28.0b

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.

Credicorp

Market Cap: US$27.9b

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

Power Grid Corporation of India

Market Cap: ₹2.7t

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

Sampo Oyj

Market Cap: €24.0b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

China National Nuclear Power

Market Cap: CN¥187.6b

Engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China.

Citizens Financial Group

Market Cap: US$27.5b

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.

Piotech

Market Cap: CN¥184.4b

Engages in the research and development, production, sales, and technical services of semiconductor equipment in China.