Qatari Software Defensive Blue Chips

SDIC Power Holdings

Market Cap: CN¥107.3b

Engages in the electricity generation business in China.

Varun Beverages

Market Cap: ₹1.5t

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.

Grupo Financiero Inbursa. de

Market Cap: Mex$271.7b

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

Banco Comercial Português

Market Cap: €13.3b

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

Osaka Gas

Market Cap: JP¥2.5t

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

Union Bank of India

Market Cap: ₹1.4t

Provides banking products and services in India.

Attijariwafa bank

Market Cap: د.م143.3b

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

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق56.2b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Jerónimo Martins SGPS

Market Cap: €13.1b

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

Yuanjie Semiconductor Technology

Market Cap: CN¥105.0b

Yuanjie Semiconductor Technology Co., Ltd.

Bank of Baroda

Market Cap: ₹1.4t

Provides various banking products and services to individuals, government departments, and corporate customers in India and internationally.

Phoenix Financial

Market Cap: ₪46.5b

Provides multi-line insurance products in Israel.

SCB X

Market Cap: ฿489.9b

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

Bankinter

Market Cap: €13.0b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Banco de Crédito e Inversiones

Market Cap: CL$13.7t

Provides various banking products and services in Chile, the United States, and Peru.

Tokyo GasLtd

Market Cap: JP¥2.4t

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

Coloplast

Market Cap: DKK 96.5b

Engages in the development and sale of intimate healthcare products and services in Denmark, the United States, the United Kingdom, France, and internationally.

National Bank of Greece

Market Cap: €12.8b

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

mBank

Market Cap: zł54.5b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Origin Energy

Market Cap: AU$21.3b

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.

Hippo Valley Estates

Market Cap: US$1.9b

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

ASPEED Technology

Market Cap: NT$475.6b

Operates as a fabless integrated circuit (IC) design company in Taiwan, China, the United States, and internationally.

Adani Energy Solutions

Market Cap: ₹1.4t

Generates, transmits, and distributes power in India.

African Distillers

Market Cap: US$1.9b

Manufactures, distributes, and markets branded wines, spirits, and ciders in Zimbabwe.

ageas

Market Cap: €12.7b

Engages in insurance business.

Hua Nan Financial Holdings

Market Cap: NT$474.6b

Provides financial services in Taiwan and internationally.

SinoPac Financial Holdings

Market Cap: NT$473.9b

Through its subsidiaries, provides banking services worldwide.

FinecoBank Banca Fineco

Market Cap: €12.7b

Provides banking, credit, trading and investment services in Italy.

Shenzhen Techwinsemi Technology

Market Cap: CN¥101.5b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Everest Group

Market Cap: US$14.8b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

ASR Nederland

Market Cap: €12.6b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ54.2b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

Mapfre

Market Cap: €12.6b

Engages in insurance, reinsurance, and financial activities in Spain.

Asahi Group Holdings

Market Cap: JP¥2.3t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

Tele2

Market Cap: SEK 136.7b

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

Banque Cantonale Vaudoise

Market Cap: CHF 11.5b

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