Dutch Utilities Defensive Blue Chips

Elia Group

Market Cap: €14.5b

Develops and operates as a transmission system operator in Belgium and Germany.

Suzhou Centec Communications

Market Cap: CN¥113.9b

Engages in the research and development of ethernet switch chips and supporting products in China and internationally.

Samsung Fire & Marine Insurance

Market Cap: ₩25.7t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

East West Bancorp

Market Cap: US$16.7b

Operates as the bank holding company for East West Bank that provides a range of personal and commercial banking services to businesses and individuals in the United States.

Hua Nan Financial Holdings

Market Cap: NT$524.7b

Provides financial services in Taiwan and internationally.

Nova

Market Cap: US$16.6b

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.

Airtel Africa

Market Cap: UK£12.3b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, gas and heat supply, and telecommunication and gas supply in Japan.

Banco de Sabadell

Market Cap: €14.1b

Provides banking products and services in Spain, the United Kingdom, and Mexico.

Eurobank

Market Cap: €14.0b

Provides retail, corporate and private banking, asset management, treasury and capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Hippo Valley Estates

Market Cap: US$2.1b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Zimmer Biomet Holdings

Market Cap: US$16.2b

Operates as a medical technology company worldwide.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Bank of Beijing

Market Cap: CN¥108.5b

Provides various banking services to individuals and corporates in China.

Banco Comercial Português

Market Cap: €13.7b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Hua Xia Bank

Market Cap: CN¥106.9b

Provides commercial banking services in China and Hong Kong.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

Market Cap: Rp281.8t

Provides information and communications technology, and telecommunications network services worldwide.

SCREEN Holdings

Market Cap: JP¥2.5t

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

Tongfu MicroelectronicsLtd

Market Cap: CN¥106.6b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

ING Bank Slaski

Market Cap: zł57.2b

Provides various banking products and services for retail clients and businesses in Poland.

JD Health International

Market Cap: HK$122.3b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Semtech

Market Cap: US$15.5b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Eastroc Beverage (Group)

Market Cap: CN¥104.9b

Engages in the manufacturing and distribution of beverages in the People’s Republic of China.

Power Assets Holdings

Market Cap: HK$121.2b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

National Bank of Greece

Market Cap: €13.2b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Sonova Holding

Market Cap: CHF 12.1b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

SinoPac Financial Holdings

Market Cap: NT$480.4b

Through its subsidiaries, provides banking services worldwide.

Krung Thai Bank

Market Cap: ฿496.2b

Engages in commercial banking business in Thailand and internationally.

Brookfield Wealth Solutions

Market Cap: US$15.1b

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

SK Telecom

Market Cap: ₩23.2t

Engages in the provision of wireless telecommunication services in South Korea.

Performance Food Group

Market Cap: US$15.1b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

African Distillers

Market Cap: US$1.9b

Manufactures, distributes, and markets branded wines, spirits, ready-to-drink (RTDs), and ciders in Zimbabwe.

Phoenix Financial

Market Cap: ₪43.5b

Operates as a financial services company in Israel.

LONGi Green Energy Technology

Market Cap: CN¥101.4b

Manufactures and sells monocrystalline silicon wafers, solar modules, and green hydrogen equipment in China, Europe, the Asia Pacific, and the United States.

Attijariwafa bank

Market Cap: د.م138.1b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Grupo Financiero Inbursa. de

Market Cap: Mex$259.6b

Provides various financial products and services to individuals and businesses in Mexico.