Romanian Materials Defensive Blue Chips

Al Rajhi Banking and Investment

Market Cap: ر.س373.2b

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

BNP Paribas

Market Cap: €85.2b

Provides various banking and financial products and services in Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

AIA Group

Market Cap: HK$758.1b

Provides life insurance based financial services in Hong Kong.

Constellation Energy

Market Cap: US$96.0b

Produces and sells energy products and services in the United States.

China Yangtze Power

Market Cap: CN¥684.1b

Engages in hydropower generation business in China, Brazil, Germany, Malaysia, Pakistan, Peru, Portugal, and Sudan.

AXA

Market Cap: €82.0b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

Econet Wireless Zimbabwe

Market Cap: US$12.3b

Through its subsidiaries, primarily provides mobile telecommunications and related value added services in Zimbabwe.

HCA Healthcare

Market Cap: US$95.0b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

CVS Health

Market Cap: US$94.0b

Provides health solutions in the United States.

China Telecom

Market Cap: HK$721.7b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

Enel

Market Cap: €79.4b

Operates as an integrated operator in electricity and gas industries worldwide.

NTT

Market Cap: JP¥13.0t

Operates as a telecommunications company in Japan and internationally.

Bank of Montreal

Market Cap: CA$120.2b

Provides diversified financial services primarily in North America.

McKesson

Market Cap: US$86.0b

Provides healthcare services in the United States and internationally.

State Bank of India

Market Cap: ₹7.5t

Provides banking products and services in India and internationally.

Bank of Communications

Market Cap: HK$657.5b

Provides commercial banking products and services in China and internationally.

National Australia Bank

Market Cap: AU$128.2b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Westpac Banking

Market Cap: AU$126.9b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

Cambricon Technologies

Market Cap: CN¥587.8b

Research, develops, design, and sells core chips in cloud server, edge computing, and terminal equipment in China.

Tokio Marine Holdings

Market Cap: JP¥12.0t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

PNC Financial Services Group

Market Cap: US$80.9b

Operates as a diversified financial services company in the United States.

Cigna Group

Market Cap: US$80.3b

Provides insurance and related products and services in the United States.

Aon

Market Cap: US$80.2b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €68.4b

Engages in the insurance and reinsurance businesses worldwide.

Mizuho Financial Group

Market Cap: JP¥11.6t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

Semiconductor Manufacturing International

Market Cap: HK$609.1b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

Arthur J. Gallagher

Market Cap: US$77.6b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Bank of Nova Scotia

Market Cap: CA$106.3b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

U.S. Bancorp

Market Cap: US$75.5b

A financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States.

CRH

Market Cap: US$74.7b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

SoftBank

Market Cap: JP¥10.9t

Engages in the telecommunication and information technology businesses in Japan.

Elevance Health

Market Cap: US$72.6b

Operates as a health benefits company in the United States.

MediaTek

Market Cap: NT$2.2t

Engages in the research, development, production, manufacture, and marketing of multimedia integrated circuits (ICs) in Taiwan, rest of Asia, and internationally.

Nu Holdings

Market Cap: US$71.8b

Provides digital banking platform in Brazil, Mexico, Colombia, the Cayman Islands, and the United States.

Canadian Imperial Bank of Commerce

Market Cap: CA$99.0b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Nongfu Spring

Market Cap: HK$555.8b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.