Qatari Utilities Defensive Blue Chips

Orange

Market Cap: €45.2b

Operates as a telecommunications operator in France and internationally.

Holcim

Market Cap: CHF 41.5b

Provides building materials and solutions in Europe, Latin America, and Asia, Middle East, and Africa.

Erste Group Bank

Market Cap: €44.9b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Fifth Third Bancorp

Market Cap: US$51.1b

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

Microchip Technology

Market Cap: US$51.0b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

United Overseas Bank

Market Cap: S$65.8b

Provides banking products and services worldwide.

Samsung Life Insurance

Market Cap: ₩77.7t

Engages in the life insurance business to corporate and individual customers in South Korea and internationally.

Ambev

Market Cap: R$260.5b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

Wal-Mart de México. de

Market Cap: Mex$875.7b

Owns and operates self-service stores in Mexico and Central America.

Credo Technology Group Holding

Market Cap: US$50.0b

Provides various high-speed connectivity solutions for optical and electrical Ethernet and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and other international markets.

Sberbank of Russia

Market Cap: ₽3.0t

Sberbank of Russia, together with its subsidiaries, provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions.

Cathay Financial Holding

Market Cap: NT$1.6t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.8b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

Montage Technology

Market Cap: CN¥324.4b

An integrated circuit (IC) design company, provides IC-based solutions for cloud computing and AI infrastructure in the People’s Republic of China.

Endesa

Market Cap: €41.5b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.

GLOBALFOUNDRIES

Market Cap: US$47.2b

A semiconductor foundry, provides range of mainstream wafer fabrication services and technologies in the United States, Europe, the Middle East, Africa, and internationally.

Adani Power

Market Cap: ₹4.4t

Engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.

Commerzbank

Market Cap: €40.9b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, and Asia.

Moore Threads Technology

Market Cap: CN¥316.2b

Engages in the development of GPU chips and related products.

Swiss Re

Market Cap: CHF 37.6b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.

Diageo

Market Cap: UK£35.1b

Engages in the production, marketing, and distribution of alcoholic beverages in North America, Europe, the Asia Pacific, Latin America and Caribbean, and Africa.

ON Semiconductor

Market Cap: US$46.2b

Provides intelligent sensing and power solutions in Hong Kong, Singapore, the United Kingdom, the United States, and internationally.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ167.0b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

Axis Bank

Market Cap: ₹4.3t

Provides various financial products and services in India and internationally.

Heineken

Market Cap: €39.8b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

Humana

Market Cap: US$45.1b

Provides medical and specialty insurance products in the United States.

Coca-Cola Europacific Partners

Market Cap: €39.1b

Produces, distributes, and sells a range of non-alcoholic ready-to-drink beverages.

Keurig Dr Pepper

Market Cap: US$44.2b

Owns, manufactures, and distributes beverages and single-serve brewing systems in the United States and internationally.

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

Market Cap: ر.ق159.4b

Provides conventional and Islamic banking products and services in Qatar, Europe, North America, rest of GCC countries, and internationally.

Nanya Technology

Market Cap: NT$1.4t

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

RWE

Market Cap: €38.3b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

IDEXX Laboratories

Market Cap: US$43.5b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

Siemens Healthineers

Market Cap: €38.2b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

China Jushi

Market Cap: CN¥294.2b

Manufactures and sells fiberglass and related products in China and internationally.

Kotak Mahindra Bank

Market Cap: ₹4.1t

Provides a range of banking and financial services to corporate and individual customers in India.

Sun Life Financial

Market Cap: CA$61.0b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.