Mauritian Semiconductors Defensive Blue Chips

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ145.6b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

HOYA

Market Cap: JP¥5.8t

A med-tech company, provides high-tech and medical products worldwide.

Intact Financial

Market Cap: CA$54.4b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Seven & i Holdings

Market Cap: JP¥5.8t

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

Cardinal Health

Market Cap: US$39.5b

Operates as a healthcare services and products company in the United States, Canada, Europe, Asia, and internationally.

Fubon Financial Holding

Market Cap: NT$1.2t

Provides various financial services in Taiwan, Asia, and internationally.

Orange

Market Cap: €34.0b

Operates as a telecommunications operator in France and internationally.

KBC Group

Market Cap: €33.8b

Provides banking, insurance, and asset management services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

UltraTech Cement

Market Cap: ₹3.4t

Primarily engages in the manufacture and sale of clinker, cement, and related products in India.

National Bank of Canada

Market Cap: CA$52.9b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Commerzbank

Market Cap: €33.4b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥274.8b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Ambev

Market Cap: R$211.3b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 30.9b

Engages in the manufacture and sale of chocolate products worldwide.

Fairfax Financial Holdings

Market Cap: CA$51.7b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, the Middle East, Asia, and internationally.

NTPC

Market Cap: ₹3.3t

Primarily engages in the generation and sale of bulk power to state power utilities in India.

Koninklijke Ahold Delhaize

Market Cap: €32.4b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Hannover Rück

Market Cap: €32.3b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

JAPAN POST BANK

Market Cap: JP¥5.4t

Provides various banking products and services to retail and corporate clients in Japan and internationally.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ136.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Standard Chartered

Market Cap: UK£27.4b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.

ResMed

Market Cap: US$36.7b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets.

Microchip Technology

Market Cap: US$36.7b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

Heidelberg Materials

Market Cap: €31.7b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.

Emirates NBD Bank PJSC

Market Cap: د.إ133.6b

Provides corporate, institutional, retail, treasury, and Islamic banking services.

Consolidated Edison

Market Cap: US$36.3b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

Sun Life Financial

Market Cap: CA$49.3b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Telstra Group

Market Cap: AU$55.6b

Engages in the provision of telecommunications and information services to businesses, government, and individuals in Australia and internationally.

China Unicom (Hong Kong)

Market Cap: HK$281.5b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Sysco

Market Cap: US$35.9b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Chunghwa Telecom

Market Cap: NT$1.1t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Swisscom

Market Cap: CHF 29.1b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Hartford Insurance Group

Market Cap: US$35.5b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

Tesco

Market Cap: UK£26.4b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Brown & Brown

Market Cap: US$35.3b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 337.2b

Provides corporate, retail, investment, and private banking services.