Moroccan Materials Defensive Blue Chips

Swiss Life Holding

Market Cap: CHF 26.1b

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

Ping An Bank

Market Cap: CN¥215.6b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

ON Semiconductor

Market Cap: US$31.8b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Bank of Jiangsu

Market Cap: CN¥214.0b

Provides various banking products and services in China.

Bank of Ningbo

Market Cap: CN¥212.6b

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

Malayan Banking Berhad

Market Cap: RM 128.2b

Provides commercial banking and related financial products and services.

Grupo Financiero Banorte. de

Market Cap: Mex$533.7b

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

Fresenius SE KGaA

Market Cap: €27.0b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Citizens Financial Group

Market Cap: US$31.1b

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.

Casey's General Stores

Market Cap: US$31.0b

Operates convenience stores under the Casey's and Casey’s General Store names in the United States.

Willis Towers Watson

Market Cap: US$31.0b

Operates as an advisory, broking, and solutions company worldwide.

Naturgy Energy Group

Market Cap: €26.9b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Svenska Handelsbanken

Market Cap: SEK 295.2b

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

Foshan Haitian Flavouring and Food

Market Cap: CN¥206.8b

Foshan Haitian Flavouring and Food Company Ltd.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$3.9b

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

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.8t

Operates as a trust bank in Japan and internationally.

Nestlé India

Market Cap: ₹2.9t

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

Qnity Electronics

Market Cap: US$29.7b

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.

Seven & i Holdings

Market Cap: JP¥4.7t

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

TS Financial Holding

Market Cap: NT$948.1b

Provides various financial products and services.

Credicorp

Market Cap: US$29.6b

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

Piotech

Market Cap: CN¥199.2b

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

Banco BPM

Market Cap: €25.5b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

Sampo Oyj

Market Cap: €25.4b

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.

Ørsted

Market Cap: DKK 188.4b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Kraft Heinz

Market Cap: US$29.1b

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

Gulf Development

Market Cap: ฿963.6b

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

AST SpaceMobile

Market Cap: US$28.9b

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

GLOBALFOUNDRIES

Market Cap: US$28.9b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Aviva

Market Cap: UK£21.3b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

Atmos Energy

Market Cap: US$28.7b

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

Tower Semiconductor

Market Cap: US$28.5b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Avenue Supermarts

Market Cap: ₹2.7t

Engages in the business of organized retail and operation of supermarkets under the D-Mart brand name in India.

Yuanjie Semiconductor Technology

Market Cap: CN¥186.2b

Yuanjie Semiconductor Technology Co., Ltd.

Banco de Crédito del Perú

Market Cap: S/93.4b

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

AXIA Energia

Market Cap: R$142.4b

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