Mexican Materials Defensive Blue Chips

Pinnacle Financial Partners

Market Cap: US$14.8b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.

Erie Indemnity

Market Cap: US$14.7b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Tryg

Market Cap: DKK 93.1b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

Ambuja Cements

Market Cap: ₹1.3t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Xi'an ESWIN Material Technology

Market Cap: CN¥101.7b

Xi'an ESWIN Material Technology Co., Ltd.

Hua Nan Financial Holdings

Market Cap: NT$461.3b

Provides financial services in Taiwan and internationally.

Smith & Nephew

Market Cap: UK£10.6b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

SCB X

Market Cap: ฿456.2b

Engages banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 62.1b

Produces and supplies hydro, wind, and energy electricity in Romania.

Brookfield Wealth Solutions

Market Cap: US$14.4b

Through its subsidiaries, provides retirement services, wealth protection products, and capital solutions to individuals and institutions.

Gjensidige Forsikring

Market Cap: NOK 138.6b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Metro

Market Cap: CA$19.5b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Huaneng Power International

Market Cap: HK$111.5b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Mapfre

Market Cap: €12.0b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫372.1t

Provides various banking products and services for individuals, corporate customers, and financial institutions in Vietnam.

Kasikornbank

Market Cap: ฿446.7b

Provides commercial banking products and services in Thailand and internationally.

Etihad Etisalat

Market Cap: ر.س53.0b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

BB Seguridade Participações

Market Cap: R$74.0b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Fisher & Paykel Healthcare

Market Cap: NZ$23.3b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

ageas

Market Cap: €11.9b

Engages in insurance business.

Jentech Precision Industrial

Market Cap: NT$444.5b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Penumbra

Market Cap: US$14.0b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Kerry Group

Market Cap: €11.8b

Provides taste and nutrition solutions.

Everest Group

Market Cap: US$13.9b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Brookfield Renewable

Market Cap: US$13.9b

Owns and operates a portfolio of renewable power and sustainable solution assets.

Mashreqbank PSC

Market Cap: د.إ50.8b

Provides various banking and financial services to individuals and corporates.

Piotech

Market Cap: CN¥95.5b

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

Sanlam

Market Cap: R218.7b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Vodafone Idea

Market Cap: ₹1.2t

Provides mobile telecommunication services in India.

bioMérieux

Market Cap: €11.5b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

Helvetia Baloise Holding

Market Cap: CHF 10.5b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

Phison Electronics

Market Cap: NT$427.7b

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

Absa Group

Market Cap: R216.1b

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

Reinsurance Group of America

Market Cap: US$13.5b

Provides reinsurance and financial solutions.

Budweiser Brewing Company APAC

Market Cap: HK$105.2b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, and internationally.

Nova

Market Cap: US$13.5b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.