Moroccan Media Defensive Blue Chips

Enel

Market Cap: €100.0b

Operates as an integrated operator in the electricity and gas industries worldwide.

Zurich Insurance Group

Market Cap: CHF 93.1b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Advantest

Market Cap: JP¥18.5t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe.

Canadian Imperial Bank of Commerce

Market Cap: CA$152.4b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Medtronic

Market Cap: US$107.8b

Develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally.

ICICI Bank

Market Cap: ₹10.3t

Engages in the provision of various banking and financial services to corporate and retail customers in India and internationally.

Bank of Nova Scotia

Market Cap: CA$150.4b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

AXA

Market Cap: €92.9b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

CaixaBank

Market Cap: €92.7b

Provides various banking products and services for individuals and businesses in Spain, Portugal, and internationally.

China Yangtze Power

Market Cap: CN¥711.3b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

Cambricon Technologies

Market Cap: CN¥708.7b

Engages in the research, development, design, and sale of core AI chips for terminal devices in China.

Semiconductor Manufacturing International

Market Cap: HK$818.7b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

AIA Group

Market Cap: HK$803.9b

Provides life insurance based financial services in Hong Kong.

Al Rajhi Banking and Investment

Market Cap: ر.س383.7b

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

Hygon Information Technology

Market Cap: CN¥691.9b

Engages in the research and development of processors, accelerators, and other computing chip products and systems in China.

Oversea-Chinese Banking

Market Cap: S$129.9b

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

PNC Financial Services Group

Market Cap: US$99.7b

Operates as a diversified financial services company in the United States.

McKesson

Market Cap: US$99.5b

Provides healthcare services in the United States and internationally.

U.S. Bancorp

Market Cap: US$98.9b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

State Bank of India

Market Cap: ₹9.4t

Provides banking products and services in India and internationally.

Constellation Energy

Market Cap: US$96.4b

Produces and sells energy products and services in the United States.

NFiniTi

Market Cap: US$95.5b

Operates as an alcoholic beverage company that specializes in producing ready-to-drink cocktails across the Western Hemisphere.

ING Groep

Market Cap: €83.7b

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

Barclays

Market Cap: UK£71.6b

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

Monster Beverage

Market Cap: US$93.2b

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

Tokio Marine Holdings

Market Cap: JP¥15.2t

Engages in the non-life and life insurance, and financial and general businesses in Japan, the United States, and internationally.

Infineon Technologies

Market Cap: €79.9b

Develops, manufactures, and markets semiconductors and semiconductor-based solutions in Germany, Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, the Asia-Pacific, Japan, the United States, and the Americas.

Westpac Banking

Market Cap: AU$129.8b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

Postal Savings Bank of China

Market Cap: HK$702.5b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

Bank of Communications

Market Cap: HK$701.9b

Provides commercial banking products and services in China and internationally.

National Australia Bank

Market Cap: AU$127.1b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Lloyds Banking Group

Market Cap: UK£66.4b

Provides a range of banking and financial products and services for retail and commercial customers in the United Kingdom.

Marsh & McLennan Companies

Market Cap: US$87.5b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

EssilorLuxottica Société anonyme

Market Cap: €76.0b

Designs, manufactures, and distributes ophthalmic lenses, frames, sunglasses, and instruments and equipment in North America, the Middle East, Africa, Europe, Latin America, and the Asia-Pacific.

HCA Healthcare

Market Cap: US$84.8b

Through its subsidiaries, provides health care services in the United States.

Elevance Health

Market Cap: US$81.9b

Operates as a health benefits company in the United States.