Moroccan Software Defensive Blue Chips

Ambuja Cements

Market Cap: ₹1.1t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫298.5t

Provides various banking products and services in Vietnam and internationally.

Sumco

Market Cap: JP¥1.8t

Engages in the manufacture and sale of silicon wafers for the semiconductor industry in Japan, the United States, China, Taiwan, South Korea, Europe, and internationally.

Sanlam

Market Cap: R184.4b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Arab National Bank

Market Cap: ر.س42.4b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Industrial Bank of Korea

Market Cap: ₩16.9t

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

Bangkok Bank

Market Cap: ฿375.1b

Provides various commercial banking products and services in Thailand and internationally.

Indus Towers

Market Cap: ₹1.1t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Maplebear

Market Cap: US$11.2b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

Magnum Ice Cream

Market Cap: €9.8b

Engages in the ice cream business in the Netherlands.

Hangzhou Silan Microelectronics

Market Cap: CN¥75.0b

Engages in the research, design, development, production, and sale of electronic components in China.

United Nova TechnologyLtd

Market Cap: CN¥75.0b

Manufactures and markets power discrete and modules in China and internationally.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥74.8b

Engages in the generation and sale of electricity in China.

Hong Leong Bank Berhad

Market Cap: RM 44.9b

Operates as a financial services company in Malaysia and internationally.

Silicon Motion Technology

Market Cap: US$11.0b

Designs, develops, and markets NAND flash controllers for solid-state storage devices and related devices in China, Japan, Singapore, Taiwan, Korea, the United States, and internationally.

Quebecor

Market Cap: CA$15.6b

Engages in the telecommunications, media, and sports and entertainment businesses in Canada.

Suzhou Maxwell Technologies

Market Cap: CN¥74.3b

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

Encompass Health

Market Cap: US$10.9b

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

BJ's Wholesale Club Holdings

Market Cap: US$10.9b

Operates membership warehouse clubs on the eastern half of the United States.

Popular

Market Cap: US$10.9b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Insulet

Market Cap: US$10.9b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Shanghai Rural Commercial Bank

Market Cap: CN¥73.9b

Engages in commercial banking business in China.

Harel Insurance Investments & Financial Services

Market Cap: ₪32.7b

Offers insurance and financial services in Israel, Europe, and internationally.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Absa Group

Market Cap: R176.8b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Guangdong Haid Group

Market Cap: CN¥73.3b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

UMB Financial

Market Cap: US$10.8b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

Shizuoka Financial GroupInc

Market Cap: JP¥1.7t

Provides various banking products and services.

BDO Unibank

Market Cap: ₱662.6b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Ryan Specialty Holdings

Market Cap: US$10.7b

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, Singapore, and internationally.

Alchip Technologies

Market Cap: NT$343.3b

Engages in the research, design, development, and manufacturing of application specific integrated circuits and system on a chip in the United States, China, Japan, Taiwan, and internationally.

Wintrust Financial

Market Cap: US$10.7b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Zhejiang Zheneng Electric Power

Market Cap: CN¥72.4b

Zhejiang Zheneng Electric Power Co., Ltd.

Far EasTone Telecommunications

Market Cap: NT$342.7b

Provides mobile telecommunications services in Taiwan and internationally.

Unigroup Guoxin Microelectronics

Market Cap: CN¥72.1b

Unigroup Guoxin Microelectronics Co., Ltd.