Moroccan Materials Defensive Blue Chips

CP ALL

Market Cap: ฿434.4b

Operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally.

Osaka Gas

Market Cap: JP¥2.1t

Provides natural gas, electricity, and other energy products and services in Japan and internationally.

Semtech

Market Cap: US$13.0b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Apollo Hospitals Enterprise

Market Cap: ₹1.2t

Provides healthcare services in India.

Banque Cantonale Vaudoise

Market Cap: CHF 10.5b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Etihad Etisalat

Market Cap: ر.س48.5b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Nova

Market Cap: US$12.9b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

Rockchip Electronics

Market Cap: CN¥87.0b

Operates as a fabless IC design company focusing on Intelligent IoT in China.

Brown-Forman

Market Cap: US$12.9b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Penumbra

Market Cap: US$12.9b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Carrefour

Market Cap: €11.1b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Insurance Australia Group

Market Cap: AU$18.2b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

WH Group

Market Cap: HK$100.8b

An investment holding company, produces and sells packaged meats, pork, and hogs in China, North America, and Europe.

Almarai

Market Cap: ر.س48.1b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Webster Financial

Market Cap: US$12.8b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

Fidelity National Financial

Market Cap: US$12.8b

Provides various insurance products in the United States.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

KT&G

Market Cap: ₩18.0t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

J. M. Smucker

Market Cap: US$12.7b

Manufactures and markets branded food and beverage products worldwide.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥85.5b

Henan Shuanghui Investment & Development Co.,Ltd.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Coca-Cola Consolidated

Market Cap: US$12.6b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

Fresenius Medical Care

Market Cap: €10.9b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

Jerónimo Martins SGPS

Market Cap: €10.8b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

BrightSpring Health Services

Market Cap: US$12.4b

Operates as a home and community-based healthcare services platform in the United States.

National Silicon Industry Group

Market Cap: CN¥83.7b

National Silicon Industry Group Co., Ltd.

Smith & Nephew

Market Cap: UK£9.2b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

MTN Nigeria Communications

Market Cap: ₦16.9t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Align Technology

Market Cap: US$12.4b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

Nexchip Semiconductor

Market Cap: CN¥83.3b

Engages in the research, development, production, and sale of integrated circuit related products in China and internationally.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥83.2b

Beijing Huafeng Test & Control Technology Co.,Ltd.

Chiba Bank

Market Cap: JP¥2.0t

Provides banking products and services in Japan and internationally.

Encompass Health

Market Cap: US$12.3b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

First Horizon

Market Cap: US$12.3b

Operates as the bank holding company for First Horizon Bank that provides various financial services.