Moroccan Consumer Services Defensive Blue Chips

First Citizens BancShares

Market Cap: US$24.3b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Dollar Tree

Market Cap: US$24.2b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

Hana Financial Group

Market Cap: ₩35.7t

Through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally.

National Bank of KuwaitK.P

Market Cap: د.ك7.5b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Coca-Cola HBC

Market Cap: UK£17.9b

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.

Suzhou Centec Communications

Market Cap: CN¥162.0b

Engages in the research, design, and sale of Ethernet switching chips and related products in China and internationally.It offers ethernet switch and ethernet transceiver PHY silicon; and ethernet switches, as well as network operation systems.

Snam

Market Cap: €20.8b

Engages in the operation of natural gas transport and storage infrastructure.

VERBUND

Market Cap: €20.8b

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

BNP Paribas Fortis

Market Cap: €20.7b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Loews

Market Cap: US$23.6b

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

NN Group

Market Cap: €20.6b

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

Lasertec

Market Cap: JP¥3.8t

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

Brown & Brown

Market Cap: US$23.5b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

Sigma Healthcare

Market Cap: AU$33.4b

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

Terna

Market Cap: €20.5b

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

Bank Mandiri (Persero)

Market Cap: Rp417.7t

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

Quest Diagnostics

Market Cap: US$23.3b

Provides diagnostic testing and services in the United States.

Aeon

Market Cap: JP¥3.8t

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

Labcorp Holdings

Market Cap: US$23.2b

Provides laboratory services.

ACM Research (Shanghai)

Market Cap: CN¥157.2b

Engages in the research, development, production, and sale of semiconductor equipment in China.

Bunge Global

Market Cap: US$23.1b

Operates as an agribusiness and food company worldwide.

Telefónica

Market Cap: €20.2b

Provides telecommunications services in Spain, Brazil, Germany, and the United Kingdom.

First Solar

Market Cap: US$22.8b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Constellation Brands

Market Cap: US$22.7b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Banco do Brasil

Market Cap: R$115.1b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

AST SpaceMobile

Market Cap: US$22.4b

Designs and develops the constellation of BlueBird satellites in the United States.

JCET Group

Market Cap: CN¥151.5b

Provides integrated-circuit back-end and technology services in China, South Korea, the United States, and internationally.

Telefônica Brasil

Market Cap: R$114.0b

Operates as a mobile telecommunications company in Brazil.

Mega Financial Holding

Market Cap: NT$720.9b

Provides various financial services in Taiwan.

Xi'an ESWIN Material Technology

Market Cap: CN¥150.9b

Xi'an ESWIN Material Technology Co., Ltd.

Riyad Bank

Market Cap: ر.س83.2b

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

China Minsheng Banking

Market Cap: CN¥149.5b

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

Heineken Holding

Market Cap: €19.3b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

Coles Group

Market Cap: AU$31.2b

Operates as a retailer in Australia.

Shanxi Xinghuacun Fen Wine FactoryLtd

Market Cap: CN¥147.7b

Shanxi Xinghuacun Fen Wine Factory Co.,Ltd.

Adani Energy Solutions

Market Cap: ₹2.1t

Generates, transmits, and distributes power in India.