Serbian Software Defensive Blue Chips

Vodacom Group

Market Cap: R302.4b

Provides communications products and services.

Bank of Ireland Group

Market Cap: €15.9b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Anhui Conch Cement

Market Cap: CN¥129.6b

Manufactures, sells, and trades in clinker and cement products in China and internationally.

CEMEX. de

Market Cap: Mex$322.6b

Engages in the production, marketing, distribution, and sale of cement, ready-mix concrete, aggregates, urbanization solutions, and other construction materials and services worldwide.

JDE Peet's

Market Cap: €15.4b

Operates as a coffee and tea company worldwide.

Lasertec

Market Cap: JP¥2.8t

Engages in the design, manufacture, and sale of inspection and measurement equipment in Japan, South Korea, Taiwan, Other Asia, the United States.

JBS

Market Cap: US$18.0b

Operates as a protein and food company worldwide.

Eurobank

Market Cap: €15.2b

Provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ65.8b

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

Rede D'Or São Luiz

Market Cap: R$93.0b

Engages in the provision of hospital services in Brazil.

MACOM Technology Solutions Holdings

Market Cap: US$17.8b

Provides analog semiconductor solutions for use in wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and lightwave spectrum.

Insulet

Market Cap: US$17.6b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Coloplast

Market Cap: DKK 110.8b

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

E.SUN Financial Holding Company

Market Cap: NT$552.3b

Offers various financial banking products and services in Taiwan.

Wilmar International

Market Cap: S$22.2b

Operates as an agribusiness company in the People's Republic of China, South East Asia, India, Europe, Australia, New Zealand, Africa, and internationally.

Santander Bank Polska

Market Cap: zł61.9b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

Mediobanca Banca di Credito Finanziario

Market Cap: €14.6b

Provides various banking products and services in Italy, Other European countries, the United States, Asia, and internationally.

Uniper

Market Cap: €14.5b

Operates as an energy company in Germany, the United Kingdom, Sweden, the rest of Europe, and internationally.

Airtel Africa

Market Cap: UK£12.6b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

Zegona Communications

Market Cap: UK£12.5b

Provides integrated telecommunications services in Spain.

Tokyo GasLtd

Market Cap: JP¥2.6t

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

Bank of Hangzhou

Market Cap: CN¥117.7b

Provides various banking products and services for individuals, corporate, and small and micro businesses in China.

Bank Polska Kasa Opieki

Market Cap: zł60.3b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

China Three Gorges Renewables (Group)Ltd

Market Cap: CN¥116.6b

China Three Gorges Renewables (Group) Co.,Ltd.

Banco Santander-Chile

Market Cap: CL$14.4t

Provides commercial and retail banking products and services in Chile.

Powszechny Zaklad Ubezpieczen

Market Cap: zł59.7b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Power Assets Holdings

Market Cap: HK$131.2b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, and internationally.

Varun Beverages

Market Cap: ₹1.5t

Manufactures, bottles, sells, and distributes beverages and value-added products under the PepsiCo brands.

Hologic

Market Cap: US$16.8b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

Osaka Gas

Market Cap: JP¥2.6t

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

Elia Group

Market Cap: €14.0b

Develops and operates as a transmission system operator in Belgium and Germany.

Telecom Italia

Market Cap: €14.0b

Engages in the fixed and mobile telecommunications services in Italy and internationally.

HDFC Life Insurance

Market Cap: ₹1.5t

Provides individual and group insurance solutions in India.

Bank of Beijing

Market Cap: CN¥114.4b

Provides various banking services to individuals and corporates in China.

Attijariwafa bank

Market Cap: د.م151.2b

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.ق60.2b

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