Norwegian Software Defensive Blue Chips

M&T Bank

Market Cap: US$33.6b

Operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that provides retail and commercial banking products and services in the United States.

New China Life Insurance

Market Cap: CN¥232.0b

Provides life insurance products and services to individuals and institutions in China.

KB Financial Group

Market Cap: ₩47.7t

Provides various banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally.

Imperial Brands

Market Cap: UK£24.2b

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

Advanced Info Service

Market Cap: ฿1.0t

Operates as a telecommunications and technology company primarily in Thailand.

Chunghwa Telecom

Market Cap: NT$1.0t

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

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥228.9b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Fifth Third Bancorp

Market Cap: US$32.9b

Operates as the bank holding company for Fifth Third Bank, National Association that engages in the provision of a range of financial products and services in the United States.

Grupo Financiero Banorte. de

Market Cap: Mex$568.8b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna

Market Cap: zł115.7b

Provides various banking products and services in Poland and internationally.

Talanx

Market Cap: €27.5b

Provides insurance and reinsurance products and services worldwide.

Bank Hapoalim B.M

Market Cap: ₪100.9b

Provides various banking and financial services in Israel and internationally.

Intact Financial

Market Cap: CA$43.9b

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

Invest bank P.S.C

Market Cap: د.إ118.4b

A commercial bank, provides a range of financial products and services to corporate and retail customers in the United Arab Emirates and Lebanon.

Nanya Technology

Market Cap: NT$1.0t

Research, develops, manufactures, and sells semiconductor products in Taiwan, Japan, Malaysia, China, the United States, Thailand, Germany, Singapore, Poland and internationally.

Archer-Daniels-Midland

Market Cap: US$32.2b

Engages in the procurement, transportation, storage, processing, and merchandising of agricultural commodities, ingredients, flavors, and solutions.

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥223.3b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Power Corporation of Canada

Market Cap: CA$43.5b

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

Dai-ichi Life Holdings

Market Cap: JP¥4.9t

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

Svenska Handelsbanken

Market Cap: SEK 281.7b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Fresenius SE KGaA

Market Cap: €26.6b

A health care company, provides products and services for chronically ill patients.

Banca Monte dei Paschi di Siena

Market Cap: €26.5b

Provides retail and commercial banking services in Italy.

GigaDevice Semiconductor

Market Cap: CN¥218.9b

Engages in the research, development, technical support, and sale of memory, microcontrollers, and sensors.

Capitec Bank Holdings

Market Cap: R504.0b

Through its subsidiaries, provides various banking products and services in South Africa.

Advanced Micro-Fabrication Equipment China

Market Cap: CN¥217.1b

Advanced Micro-Fabrication Equipment Inc.

Dollar General

Market Cap: US$31.2b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

Sompo Holdings

Market Cap: JP¥4.8t

Provides property and casualty insurance services in Japan and internationally.

China Unicom (Hong Kong)

Market Cap: HK$243.3b

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

Swiss Life Holding

Market Cap: CHF 24.0b

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

CEZ a. s

Market Cap: Kč634.0b

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

ABN AMRO Bank

Market Cap: €25.6b

Provides various banking products and financial services to retail, private, and business clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Renesas Electronics

Market Cap: JP¥4.7t

Researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ111.4b

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

Willis Towers Watson

Market Cap: US$30.3b

Operates as an advisory, broking, and solutions company worldwide.

Ping An Bank

Market Cap: CN¥210.2b

Provides commercial banking products and services for individual and corporate customers, government agencies, institutions, and other small businesses in China and internationally.

Naturgy Energy Group

Market Cap: €25.4b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.