Mexican Software Defensive Blue Chips

Swisscom

Market Cap: CHF 29.8b

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

Endesa

Market Cap: €32.0b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

Huadian New Energy Group

Market Cap: CN¥262.4b

Engages in the power generation business in China.

ACWA Power

Market Cap: ر.س139.3b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

Veeva Systems

Market Cap: US$37.0b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Intact Financial

Market Cap: CA$50.7b

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

Hang Seng Bank

Market Cap: HK$287.5b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Hershey

Market Cap: US$36.7b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Koninklijke Ahold Delhaize

Market Cap: €31.1b

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

Telstra Group

Market Cap: AU$54.8b

Provides telecommunications and information services in Australia and internationally.

Kioxia Holdings

Market Cap: JP¥5.6t

Engages in the development, production and sale of flash memory and solid state drives (SSDs) in Japan and internationally.

Consolidated Edison

Market Cap: US$35.9b

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

SSE

Market Cap: UK£26.5b

Engages in the generation, transmission, distribution, and supply of electricity.

Sysco

Market Cap: US$35.7b

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.

Cathay Financial Holding

Market Cap: NT$1.1t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

ResMed

Market Cap: US$35.4b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.5t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Microchip Technology

Market Cap: US$35.0b

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

ASE Technology Holding

Market Cap: NT$1.1t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

Arch Capital Group

Market Cap: US$34.9b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥243.6b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Sun Life Financial

Market Cap: CA$47.7b

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.

Talanx

Market Cap: €29.4b

Provides insurance and reinsurance products and services worldwide.

Seven & i Holdings

Market Cap: JP¥5.4t

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

Grupo Nutresa S. A

Market Cap: Col$128.4t

Operates in the food industry in Colombia, Latin America, and internationally.

Power Corporation of Canada

Market Cap: CA$46.4b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 26.8b

Engages in the manufacture and sale of chocolate products worldwide.

CEZ a. s

Market Cap: Kč695.2b

Engages in the generation, distribution, trade, and sale of electricity and heat in Western, Central, and Southeastern Europe.

QNB Bank

Market Cap: ₺1.4t

Provides various banking products and services in Turkey.

Disco

Market Cap: JP¥5.2t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Imperial Brands

Market Cap: UK£24.7b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp551.2t

Provides various banking products and services in Indonesia and internationally.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥230.3b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Swiss Life Holding

Market Cap: CHF 26.0b

Provides life, pensions, and financial solutions for private and corporate clients.

Banca Monte dei Paschi di Siena

Market Cap: €27.7b

Provides retail and commercial banking services in Italy.

Bank Leumi le-Israel B.M

Market Cap: ₪104.0b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.