Polish Software Defensive Blue Chips

Hua Nan Financial Holdings

Market Cap: NT$460.7b

Provides financial services in Taiwan and internationally.

Tryg

Market Cap: DKK 92.1b

Engages in the provision of insurance products and services to private, small and medium sized commercial, and corporate customers in Denmark, the United States, rest of Nordic, Luxembourg, the United Kingdom, and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 62.5b

Produces and supplies hydro, wind, and energy electricity in Romania.

Huaneng Power International

Market Cap: HK$114.0b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China and internationally.

Samsung Fire & Marine Insurance

Market Cap: ₩21.0t

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

SCB X

Market Cap: ฿456.2b

Engages banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Osaka Gas

Market Cap: JP¥2.2t

Provides gas, electricity, and other energy products and services in Japan and internationally.

Canara Bank

Market Cap: ₹1.3t

Provides various banking products and services in India and internationally.

Hua Xia Bank

Market Cap: CN¥100.9b

Provides commercial banking services in China and Hong Kong.

Brookfield Wealth Solutions

Market Cap: US$14.5b

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

Mashreqbank PSC

Market Cap: د.إ53.2b

Provides various banking and financial services to individuals and corporates.

Etihad Etisalat

Market Cap: ر.س54.2b

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

Nova

Market Cap: US$14.4b

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.

Metro

Market Cap: CA$19.3b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Erie Indemnity

Market Cap: US$14.3b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Gjensidige Forsikring

Market Cap: NOK 136.9b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

Piotech

Market Cap: CN¥99.1b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

ING Bank Slaski

Market Cap: zł50.5b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Origin Energy

Market Cap: AU$20.2b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Smith & Nephew

Market Cap: UK£10.3b

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

Israel Discount Bank

Market Cap: ₪43.7b

Provides various banking and financial services in Israel, Europe, and North America.

BB Seguridade Participações

Market Cap: R$73.3b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Pinnacle Financial Partners

Market Cap: US$14.1b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.

Kasikornbank

Market Cap: ฿442.0b

Provides commercial banking products and services in Thailand and internationally.

Kerry Group

Market Cap: €11.8b

Provides taste and nutrition solutions.

Mapfre

Market Cap: €11.9b

Engages in the investment, insurance, property, financial, and services businesses in Spain.

Penumbra

Market Cap: US$14.1b

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

HANMI Semiconductor

Market Cap: ₩20.0t

Manufactures and sells semiconductor equipment in South Korea and internationally.

Celsius Holdings

Market Cap: US$13.9b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

Brookfield Renewable

Market Cap: US$13.8b

Owns and operates a portfolio of renewable power and sustainable solution assets.

Fisher & Paykel Healthcare

Market Cap: NZ$22.7b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

Sanlam

Market Cap: R218.0b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Ambuja Cements

Market Cap: ₹1.3t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

bioMérieux

Market Cap: €11.5b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

Everest Group

Market Cap: US$13.6b

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

Hormel Foods

Market Cap: US$13.5b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.