Pakistani Materials Defensive Blue Chips

Etihad Etisalat

Market Cap: ر.س49.1b

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

Banque Cantonale Vaudoise

Market Cap: CHF 10.4b

Engages in the provision of various financial services in Vaud Canton and rest of Switzerland, the European Union, North America, and internationally.

Apollo Hospitals Enterprise

Market Cap: ₹1.2t

Provides healthcare services in India.

Carrefour

Market Cap: €11.1b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

KT&G

Market Cap: ₩17.9t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Shanghai United Imaging Healthcare

Market Cap: CN¥86.6b

Shanghai United Imaging Healthcare Co., Ltd.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Almarai

Market Cap: ر.س48.2b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.3b

Henan Shuanghui Investment & Development Co.,Ltd.

Eastroc Beverage (Group)

Market Cap: CN¥86.0b

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

Penumbra

Market Cap: US$12.8b

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

CP ALL

Market Cap: ฿416.6b

Operates convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internationally.

Fidelity National Financial

Market Cap: US$12.7b

Provides various insurance products in the United States.

Fresenius Medical Care

Market Cap: €10.8b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.0t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Taiwan Cooperative Financial Holding

Market Cap: NT$402.6b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

Amkor Technology

Market Cap: US$12.6b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

iA Financial

Market Cap: CA$17.4b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

HDFC Life Insurance

Market Cap: ₹1.2t

Engages in the provision of individual and group insurance solutions in India.

Shanghai Rural Commercial Bank

Market Cap: CN¥84.5b

Engages in commercial banking business in China.

MTN Nigeria Communications

Market Cap: ₦16.9t

Provides broadband fixed wireless access, telecommunication, and mobile financial services to consumer, commercial, and institutional customers in Nigeria.

Jerónimo Martins SGPS

Market Cap: €10.7b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Coca-Cola Consolidated

Market Cap: US$12.5b

Manufactures, markets, and distributes nonalcoholic beverages in the United States.

BrightSpring Health Services

Market Cap: US$12.4b

Operates as a home and community-based healthcare services platform in the United States.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Smith & Nephew

Market Cap: UK£9.0b

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

Tele2

Market Cap: SEK 116.6b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥82.8b

Beijing Huafeng Test & Control Technology Co.,Ltd.

China Resources Microelectronics

Market Cap: CN¥82.6b

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

Kokusai Electric

Market Cap: JP¥1.9t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

Harel Insurance Investments & Financial Services

Market Cap: ₪36.7b

Offers insurance and financial services in Israel, Europe, and internationally.

Nova

Market Cap: US$12.2b

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.

Magnum Ice Cream

Market Cap: €10.4b

Engages in the ice cream business in the Netherlands.

National Silicon Industry Group

Market Cap: CN¥81.4b

National Silicon Industry Group Co., Ltd.

China Resources Power Holdings

Market Cap: HK$94.4b

An investment holding company, invests in, develops, operates, and manages power plants and coal mine projects in the People’s Republic of China.