Saudi Arabian Utilities Defensive Blue Chips

Osaka Gas

Market Cap: JP¥2.0t

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

Guangxi Guiguan Electric PowerCo.Ltd

Market Cap: CN¥87.3b

Engages in the generation and sale of electricity in China.

HKT Trust and HKT

Market Cap: HK$101.3b

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.

Chubu Electric Power Company

Market Cap: JP¥2.0t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

Taiwan Cooperative Financial Holding

Market Cap: NT$416.3b

Provides banking, insurance, securities, bills finance, investment trust, asset management, and capital management services in Taiwan.

Dairibord Holdings

Market Cap: US$1.7b

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

Yokohama Financial Group

Market Cap: JP¥2.0t

Provides various banking products and services to small and medium-sized businesses and individuals in Japan and internationally.

Carrefour

Market Cap: €11.1b

Operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally.

Brown-Forman

Market Cap: US$12.8b

Manufactures, distills, bottles, imports, exports, markets, and sells a variety of alcohol beverages.

Almarai

Market Cap: ر.س48.0b

Operates as an integrated consumer food and beverage company in Saudi Arabia, other Gulf Cooperation Council countries, and internationally.

KT&G

Market Cap: ₩18.2t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

Dangote Cement

Market Cap: ₦17.3t

Engages in the preparation, manufacturing, distribution, and sale of cement and related products in Nigeria.

Pro Medicus

Market Cap: AU$18.1b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

Penumbra

Market Cap: US$12.7b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

Smith & Nephew

Market Cap: UK£9.4b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Etihad Etisalat

Market Cap: ر.س47.6b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Fresenius Medical Care

Market Cap: €11.0b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Tokyo GasLtd

Market Cap: JP¥2.0t

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

China Resources Power Holdings

Market Cap: HK$99.1b

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

Jerónimo Martins SGPS

Market Cap: €11.0b

Operates in the food distribution sector in Portugal, Poland, Colombia, Slovakia, and internationally.

Amkor Technology

Market Cap: US$12.6b

Provides outsourced semiconductor packaging and test services in the United States, Japan, Europe, and the Asia Pacific.

Webster Financial

Market Cap: US$12.6b

Operates as the bank holding company for Webster Bank, National Association that provides various financial products and services to businesses, individuals, and families in the United States.

J. M. Smucker

Market Cap: US$12.6b

Manufactures and markets branded food and beverage products worldwide.

Kinsus Interconnect Technology

Market Cap: NT$404.1b

Engages in the manufacture and sale of electronic products in Taiwan and internationally.

Nova

Market Cap: US$12.5b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

Tongfu MicroelectronicsLtd

Market Cap: CN¥84.4b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Phison Electronics

Market Cap: NT$402.4b

Designs, manufactures, and sells flash memory controllers and peripheral system applications in Asia, the United States, Europe, Australia, and internationally.

BJ's Wholesale Club Holdings

Market Cap: US$12.4b

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

Erie Indemnity

Market Cap: US$12.4b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Align Technology

Market Cap: US$12.4b

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

Aier Eye Hospital Group

Market Cap: CN¥82.9b

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

HDFC Life Insurance

Market Cap: ₹1.2t

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

Shanghai Rural Commercial Bank

Market Cap: CN¥82.7b

Engages in commercial banking business in China.

First Horizon

Market Cap: US$12.2b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

Shenzhen Techwinsemi Technology

Market Cap: CN¥82.6b

Develops, manufactures, and sells storage control chips and modules in China and internationally.

Olympus

Market Cap: JP¥1.9t

Engages in the manufacture and sale of medical equipment in Japan, America, the Middle East, Asia, and Oceania.