Serbian Telecom Defensive Blue Chips

Helvetia Baloise Holding

Market Cap: CHF 21.9b

Engages in life and non-life insurance, and reinsurance business.

China Jushi

Market Cap: CN¥178.7b

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

ON Semiconductor

Market Cap: US$26.6b

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

Hangzhou Changchuan TechnologyLtd

Market Cap: CN¥177.0b

Researches and develops, produces, and sells integrated circuit equipment in China and internationally.

Mediobanca Banca di Credito Finanziario

Market Cap: €23.0b

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

GLOBALFOUNDRIES

Market Cap: US$26.2b

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

Power Grid Corporation of India

Market Cap: ₹2.5t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Labcorp Holdings

Market Cap: US$26.2b

Provides laboratory services.

BT Group

Market Cap: UK£19.4b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Cincinnati Financial

Market Cap: US$25.9b

Provides property casualty insurance products in the United States.

Banco do Brasil

Market Cap: R$132.4b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Hana Financial Group

Market Cap: ₩35.6t

Through its subsidiaries, provides financial services in South Korea, Hong Kong, Singapore, the United States, Japan, China, Indonesia, the United Kingdom, Canada, and internationally.

Jentech Precision Industrial

Market Cap: NT$810.7b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Avenue Supermarts

Market Cap: ₹2.4t

Engages in the business of organized retail and operation of supermarkets under the D-Mart brand name in India.

National Bank of KuwaitK.P

Market Cap: د.ك7.8b

Provides financial and investment services and solutions to individual, corporate, and institutional clients in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

China Everbright Bank

Market Cap: CN¥170.1b

Provides a range of financial products and services to corporations and government agencies, retail customers, and individuals in Mainland China, Hong Kong, Luxembourg, Macao, Seoul, and Sydney.

Winbond Electronics

Market Cap: NT$807.8b

Engages in the research, development, production and sales of integrated circuits, various semiconductor components and other system products.

Fortum Oyj

Market Cap: €22.0b

Engages in the generation and sale of electricity and heat to private and business customers in Finland, Sweden, Norway, Poland, and internationally.

EnBW Energie Baden-Württemberg

Market Cap: €22.0b

Operates as an integrated energy company in Germany, Rest of Europe, and internationally.

ASPEED Technology

Market Cap: NT$802.1b

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

Grupo Cibest

Market Cap: Col$80.2t

Provides various banking products and services in Colombia and internationally.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥168.3b

Inner Mongolia Yili Industrial Group Co., Ltd.

CLP Holdings

Market Cap: HK$195.7b

An investment holding company, engages in the generation, retail, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Thailand, Taiwan, and Australia.

QBE Insurance Group

Market Cap: AU$34.9b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Principal Financial Group

Market Cap: US$24.8b

Provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide.

Tower Semiconductor

Market Cap: US$24.8b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

VERBUND

Market Cap: €21.5b

Generates, trades, and sells electricity in Austria, Germany, France, Romania, Spain, and Luxembourg.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 20.2b

Engages in the development, manufacture, and sale of chocolate products worldwide.

Qnity Electronics

Market Cap: US$24.5b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

AST SpaceMobile

Market Cap: US$24.4b

Designs and develops the constellation of BlueBird satellites in the United States.

New China Life Insurance

Market Cap: CN¥163.0b

Provides life insurance products and services to individuals and institutions in China.

Regions Financial

Market Cap: US$24.3b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

Koninklijke Philips

Market Cap: €21.1b

Operates as a health technology company in North America, the Greater China, and internationally.

China Resources New Energy Holdings

Market Cap: CN¥160.7b

Engages in investing, developing, operating, and managing wind and solar power plants in China.

NN Group

Market Cap: €20.9b

A financial services company, provides life and non-life insurance products in the Netherlands and internationally.

Mega Financial Holding

Market Cap: NT$758.0b

Provides various financial services in Taiwan.