Serbian Materials Defensive Blue Chips

HDFC Life Insurance

Market Cap: ₹1.2t

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

Align Technology

Market Cap: US$12.2b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

American Financial Group

Market Cap: US$12.2b

An insurance holding company, provides property and casualty insurance products in the United States.

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥81.7b

Engages in the generation and sale of electricity in China.

Tele2

Market Cap: SEK 115.3b

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

BJ's Wholesale Club Holdings

Market Cap: US$12.1b

Operates membership warehouse clubs on the eastern half of the United States.

Encompass Health

Market Cap: US$12.0b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$93.6b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

Kokusai Electric

Market Cap: JP¥1.9t

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

Arab National Bank

Market Cap: ر.س44.6b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Alpha Bank

Market Cap: €10.2b

Provides various banking and financial products and services in Greece and internationally.

HKT Trust and HKT

Market Cap: HK$93.0b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

Harel Insurance Investments & Financial Services

Market Cap: ₪35.5b

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

GAIL (India)

Market Cap: ₹1.1t

Operates as a natural gas processing and distribution company in India and internationally.

China Resources Power Holdings

Market Cap: HK$92.6b

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

Aier Eye Hospital Group

Market Cap: CN¥79.4b

Operates as an ophthalmic medical company in China, Hong Kong, Europe, the United States, Europe, and Southeast Asia.

Lotus Bakeries

Market Cap: €10.1b

Provides various snack products in Belgium and internationally.

United Nova TechnologyLtd

Market Cap: CN¥78.5b

Manufactures and markets power discrete and modules in China and internationally.

Saputo

Market Cap: CA$16.2b

Produces, markets, and distributes dairy products in Canada, the United States, Australia, and the United Kingdom.

Industrial Bank of Korea

Market Cap: ₩16.2t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Magnum Ice Cream

Market Cap: €10.0b

Engages in the ice cream business in the Netherlands.

Japan Post Insurance

Market Cap: JP¥1.8t

Engages in the provision of life insurance products and services in Japan.

UMB Financial

Market Cap: US$11.5b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

Marico

Market Cap: ₹1.1t

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Hong Leong Bank Berhad

Market Cap: RM 46.5b

Operates as a financial services company in Malaysia and internationally.

Far EasTone Telecommunications

Market Cap: NT$366.0b

Provides mobile telecommunications services in Taiwan and internationally.

Globus Medical

Market Cap: US$11.4b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Realtek Semiconductor

Market Cap: NT$364.5b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Shizuoka Financial GroupInc

Market Cap: JP¥1.8t

Provides various banking products and services.

Absa Group

Market Cap: R184.3b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺543.1b

Provides various banking products and services in Turkey.

Beijing YanDong MicroElectronic

Market Cap: CN¥76.3b

Beijing YanDong MicroElectronic Co., Ltd.

Bank of Chengdu

Market Cap: CN¥76.3b

Provides various banking products and services in China.

Maplebear

Market Cap: US$11.3b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

Popular

Market Cap: US$11.3b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

United Spirits

Market Cap: ₹1.1t

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.