Filipino Software Defensive Blue Chips

Cellnex Telecom

Market Cap: €17.3b

Engages in the management of terrestrial telecommunications infrastructures in France, Italy, the United Kingdom, Spain, Poland, the Netherlands, Portugal, Switzerland, Denmark, Sweden, Ireland, and Austria.

China Tower

Market Cap: HK$154.0b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Uniper

Market Cap: €17.2b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

Terumo

Market Cap: JP¥3.2t

Engages in the manufacture and sale of medical products and equipment in Japan, Europe, China, the United States, Asia, and internationally.

CIMB Group Holdings Berhad

Market Cap: RM 80.2b

Provides various banking products and services in Malaysia and internationally.

Telecom Italia

Market Cap: €17.2b

Engages in the fixed and mobile telecommunications services and products for individuals, households, and supports small and medium-sized enterprises in Italy and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 89.4b

Produces and supplies electricity from hydroelectric and wind sources in Romania.

Yihai Kerry Arawana Holdings

Market Cap: CN¥131.3b

Engages in the agriculture and food processing businesses in China.

Alinma Bank

Market Cap: ر.س72.5b

Provides banking and investment services in the Kingdom of Saudi Arabia.

Federal Home Loan Mortgage

Market Cap: US$19.3b

Operates in the secondary mortgage market in the United States.

Adani Energy Solutions

Market Cap: ₹1.8t

Generates, transmits, and distributes power in India.

Telenor

Market Cap: NOK 190.4b

Operates as a telecommunication company worldwide.

CK Infrastructure Holdings

Market Cap: HK$150.4b

An infrastructure company, invests in, develops, and operates infrastructure businesses in Hong Kong, Mainland China, the United Kingdom, Continental Europe, Australia, New Zealand, Canada, and the United States.

Banco Santander (Brasil)

Market Cap: R$99.8b

Provides various banking products and services to individuals, small and medium enterprises, and corporate customers in Brazil and internationally.

Bank of Ireland Group

Market Cap: €16.7b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Puya Semiconductor (Shanghai)

Market Cap: CN¥128.8b

Engages in research, development, design, and sale of non-volatile memory chips and memory-based derivative chips in China and internationally.

SBI Life Insurance

Market Cap: ₹1.8t

Operates as a private life insurance company in India.

NMBZ Holdings

Market Cap: US$2.4b

Provides various banking products and services to corporate and individual customers in Zimbabwe.

Onto Innovation

Market Cap: US$18.8b

Engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.

China United Network Communications

Market Cap: CN¥127.6b

Provides telecommunication services in the People’s Republic of China.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥127.4b

Beijing E-Town Semiconductor Technology Co., Ltd.

Wilson Bank Holding

Market Cap: US$18.4b

Operates as the bank holding company for Wilson Bank and Trust that provides various banking services to consumers, professionals, small businesses, and municipalities in the United States.

Ingenic SemiconductorLtd

Market Cap: CN¥125.0b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

Telia Company

Market Cap: SEK 179.1b

Provides communication services to businesses, individuals, families, and communities in Sweden, Finland, Norway, Denmark, Lithuania, Estonia, and Latvia.

Bank of Nanjing

Market Cap: CN¥124.9b

Engages in the provision of various financial products and services in China.

Varun Beverages

Market Cap: ₹1.7t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Bank of Shanghai

Market Cap: CN¥124.3b

Provides various banking products and services in China.

China Resources Microelectronics

Market Cap: CN¥124.1b

Engages in the manufacture and sale of semiconductors in China and internationally.

SinoPac Financial Holdings

Market Cap: NT$579.7b

Through its subsidiaries, provides banking services worldwide.

Koninklijke KPN

Market Cap: €15.8b

Provides telecommunications and information technology (IT) services in the Netherlands.

IHH Healthcare Berhad

Market Cap: RM 73.3b

An investment holding company, provides healthcare services in Singapore, Malaysia, India, Greater China, Japan, Türkiye and Europe, and internationally.

Associated British Foods

Market Cap: UK£13.5b

Engages in the food, ingredients, and retail businesses worldwide.

Enpara Bank

Market Cap: ₺831.5b

Provides banking services and products in Turkey.

OmniVision Integrated Circuits Group

Market Cap: CN¥120.6b

Engages in the design, development, and sale of integrated circuits and computer software and hardware in China and internationally.

Pernod Ricard

Market Cap: €15.6b

Produces and sells wines and spirits worldwide.

East West Bancorp

Market Cap: US$17.7b

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.