Moroccan Commercial Services Defensive Blue Chips

CaixaBank

Market Cap: €60.4b

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

MediaTek

Market Cap: NT$2.2t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

Wuliangye YibinLtd

Market Cap: CN¥500.2b

Manufactures and sells liquor and wine products under the Wuliangye brand in China.

Barclays

Market Cap: UK£51.4b

Provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia.

National Grid

Market Cap: UK£50.6b

Engages in the transmission and distribution of electricity and gas.

ING Groep

Market Cap: €58.0b

Provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally.

Hygon Information Technology

Market Cap: CN¥484.8b

Engages in the research and development of computing chip products and systems in China.

KDDI

Market Cap: JP¥9.9t

Engages in the provision of mobile telecommunications services in Japan and internationally.

ANZ Group Holdings

Market Cap: AU$100.0b

Provides various banking and financial products and services to retail, individuals and business customers in Australia and internationally.

Federal National Mortgage Association

Market Cap: US$64.8b

Provides financing solutions for residential mortgages in the United States.

Industrial Bank

Market Cap: CN¥461.6b

Provides banking services in the People’s Republic of China.

Vistra

Market Cap: US$64.1b

Operates as an integrated retail electricity and power generation company in the United States.

Lloyds Banking Group

Market Cap: UK£47.3b

Provides a range of banking and financial products and services in the United Kingdom and internationally.

Tokyo Electron

Market Cap: JP¥9.3t

Develops, manufactures, and sells semiconductor production equipment in Japan, Europe, North America, Taiwan, China, South Korea, and internationally.

Siemens Healthineers

Market Cap: €53.1b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers worldwide.

Life Insurance Corporation of India

Market Cap: ₹5.4t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Diageo

Market Cap: UK£45.3b

Engages in the production, marketing, and sale of alcoholic beverages in North America, the Europe, the Asia Pacific, Latin America and Caribbean, and the Africa.

Travelers Companies

Market Cap: US$61.1b

Through its subsidiaries, provides a range of commercial and personal property, and casualty insurance products and services to businesses, government units, associations, and individuals in the United States and internationally.

Monster Beverage

Market Cap: US$60.9b

Through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally.

Truist Financial

Market Cap: US$60.4b

A financial services company, provides banking and trust services in the Southeastern and Mid-Atlantic United States.

Bank Central Asia

Market Cap: Rp986.0t

Provides banking products and other financial services to individual, corporate, and small and medium enterprise customers in Indonesia and internationally.

Assicurazioni Generali

Market Cap: €50.9b

Provides various insurance solutions under the Generali brand in the Americas, Italy, rest of Europe, Africa, the Middle East, Asia, and the Oceania.

América Móvil. de

Market Cap: Mex$1.1t

Provides telecommunications services in Latin America and internationally.

NXP Semiconductors

Market Cap: US$59.2b

Provides semiconductor products in China, the United States, Germany, Japan, Singapore, South Korea, Mexico, the Netherlands, Taiwan, and internationally.

Oversea-Chinese Banking

Market Cap: S$75.2b

Provides financial services in Singapore, Malaysia, Indonesia, Greater China, rest of the Asia Pacific, and internationally.

QNB Bank

Market Cap: ₺2.4t

Provides various banking products and services in Turkey.

ITC

Market Cap: ₹5.1t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

China CITIC Bank

Market Cap: HK$448.7b

Provides various banking products and services in the People’s Republic of China and internationally.

Shanghai Pudong Development Bank

Market Cap: CN¥408.3b

Shanghai Pudong Development Bank Co., Ltd.

Aflac

Market Cap: US$57.2b

Through its subsidiaries, provides supplemental health and life insurance products.

Saudi National Bank

Market Cap: ر.س212.8b

Through its subsidiaries, provides banking and investment management services in the Kingdom of Saudi Arabia and internationally.

Cencora

Market Cap: US$56.5b

Cencora, Inc. sources and distributes pharmaceutical products in the United States and internationally.

NatWest Group

Market Cap: UK£41.7b

Provides banking and financial products and services in the United Kingdom and internationally.

Japan Tobacco

Market Cap: JP¥8.3t

A tobacco company, manufactures and sells tobacco products, pharmaceuticals, and processed foods in Japan and internationally.

Crédit Agricole

Market Cap: €47.6b

Provides retail, corporate, insurance, and investment banking products and services in France and internationally.

Singapore Telecommunications

Market Cap: S$71.5b

Provides telecommunication services to consumers and small businesses in Singapore, Australia, and internationally.