Moroccan Software Defensive Blue Chips

Krung Thai Bank

Market Cap: ฿398.3b

Engages in commercial banking business in Thailand and internationally.

Saputo

Market Cap: CA$17.3b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, Argentina, and the United Kingdom.

Alibaba Health Information Technology

Market Cap: HK$98.6b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

Align Technology

Market Cap: US$12.6b

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

Suncorp Group

Market Cap: AU$17.9b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Unum Group

Market Cap: US$12.5b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

First Horizon

Market Cap: US$12.5b

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

T&D Holdings

Market Cap: JP¥2.0t

Through its subsidiaries, provides insurance products and services in Japan.

Industrial Bank of Korea

Market Cap: ₩18.3t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Phison Electronics

Market Cap: NT$394.4b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

Italgas

Market Cap: €10.5b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Mowi

Market Cap: NOK 120.4b

A seafood company, produces and sells Atlantic salmon products worldwide.

Ooredoo Q.P.S.C

Market Cap: ر.ق45.3b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Ryan Specialty Holdings

Market Cap: US$12.4b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, and Singapore.

Carrefour

Market Cap: €10.5b

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

BAWAG Group

Market Cap: €10.5b

Operates as a holding company for BAWAG P.S.K.

Celsius Holdings

Market Cap: US$12.4b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

Orkla

Market Cap: NOK 118.7b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

ACM Research (Shanghai)

Market Cap: CN¥85.0b

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

SinoPac Financial Holdings

Market Cap: NT$387.0b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

Severn Trent

Market Cap: UK£9.0b

Provides water and wastewater services in the United Kingdom.

Assurant

Market Cap: US$12.1b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

SCREEN Holdings

Market Cap: JP¥1.9t

Develops, manufactures, and markets semiconductor production equipment in Japan, Taiwan, South Korea, China, the United States, Europe, and internationally.

Suzhou Maxwell Technologies

Market Cap: CN¥84.1b

Engages in the design, research and development, production, and sale of solar cell production equipment in China.

Technoprobe

Market Cap: €10.2b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Jinko Solar

Market Cap: CN¥83.3b

Engages in the research, development, manufacturing, and sale of photovoltaic products and clean energy solutions in China, Europe, America, the Asia Pacific, and internationally.

Jiangsu Yanghe Distillery

Market Cap: CN¥83.2b

Offers liquors and wines.

SBI Shinsei Bank

Market Cap: JP¥1.9t

Provides banking and financial products and services to individual customers, corporations, public-sector entities, and financial institutions in Japan.

Banque Cantonale Vaudoise

Market Cap: CHF 9.3b

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

Alpha Bank

Market Cap: €10.1b

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

Shanghai Rural Commercial Bank

Market Cap: CN¥82.6b

Engages in commercial banking business in China.

Acciona

Market Cap: €10.1b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Banque Saudi Fransi

Market Cap: ر.س44.6b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

GD Power DevelopmentLtd

Market Cap: CN¥82.4b

Operates as a power generation company in China.

Aegon

Market Cap: €10.0b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.