Russian Software Defensive Blue Chips

Samsung Fire & Marine Insurance

Market Cap: ₩26.1t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Saudi Awwal Bank

Market Cap: ر.س65.2b

Provides banking and financial services in the Kingdom of Saudi Arabia.

E.SUN Financial Holding Company

Market Cap: NT$558.0b

Offers various financial banking products and services in Taiwan.

Krung Thai Bank

Market Cap: ฿580.0b

Engages in commercial banking business in Thailand and internationally.

Elia Group

Market Cap: €15.1b

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

Mora Telematika Indonesia

Market Cap: Rp311.7t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

Hua Nan Financial Holdings

Market Cap: NT$546.2b

Provides financial services in Taiwan and internationally.

Luzhou LaojiaoLtd

Market Cap: CN¥114.3b

Produces and sells alcoholic products in China and internationally.

National Silicon Industry Group

Market Cap: CN¥114.3b

National Silicon Industry Group Co., Ltd.

SDIC Power Holdings

Market Cap: CN¥113.9b

Engages in the electricity generation business in China.

ASPEED Technology

Market Cap: NT$540.0b

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

Bank Polska Kasa Opieki

Market Cap: zł63.9b

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

Global Unichip

Market Cap: NT$538.7b

Engages in the research and development, production, testing, and sale of embedded memory and logic components, analog components, cell libraries, and EDA tools for various IC applications.

Bank of Hangzhou

Market Cap: CN¥113.2b

Provides various banking products and services in China.

SiTime

Market Cap: US$16.6b

Engages in the design, development, and sale of silicon timing systems solutions in Hong Kong, Taiwan, the United States, Singapore, and internationally.

Enpara Bank

Market Cap: ₺780.3b

Provides banking services and products in Turkey.

Varun Beverages

Market Cap: ₹1.6t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Hippo Valley Estates

Market Cap: US$2.1b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Airtel Africa

Market Cap: UK£12.3b

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

ING Bank Slaski

Market Cap: zł62.1b

Provides various banking products and services for retail clients and businesses in Poland.

Hua Xia Bank

Market Cap: CN¥110.3b

Provides commercial banking services in China and Hong Kong.

Shanghai Iluvatar CoreX Semiconductor

Market Cap: HK$127.2b

Shanghai Iluvatar CoreX Semiconductor Co., Ltd.

FinecoBank Banca Fineco

Market Cap: €14.2b

Provides banking, credit, trading and investment services in Italy.

Kasikornbank

Market Cap: ฿543.1b

Provides commercial banking products and services in Thailand and internationally.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

Provides banking products and services financing and investing instruments in the United Arab Emirates and internationally.

Dairibord Holdings

Market Cap: US$2.1b

Manufactures, processes, markets, and distributes milk, food, and beverage products in Zimbabwe.

mBank

Market Cap: zł61.1b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

Onto Innovation

Market Cap: US$16.0b

Engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.

Banco Santander-Chile

Market Cap: CL$14.9t

Provides commercial and retail banking products and services in Chile.

National Bank of Greece

Market Cap: €14.0b

Provides banking, financial products, and services primarily in Greece, Cyprus, North Macedonia, Romania, Bulgaria, Luxembourg, the Netherlands, and the United Kingdom, and internationally.

Kansai Electric Power Company

Market Cap: JP¥2.6t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

ASR Nederland

Market Cap: €13.9b

Provides insurance, pensions, and mortgages products and services for consumers, businesses, and employers in the Netherlands.

Bankinter

Market Cap: €13.8b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

SCB X

Market Cap: ฿528.6b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Power Assets Holdings

Market Cap: HK$123.3b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

Bank of Beijing

Market Cap: CN¥105.9b

Provides various banking services to individuals and corporates in China.