Swedish Retail Defensive Blue Chips

First Financial Holding

Market Cap: NT$379.5b

Through its subsidiaries, provides various in Taiwan, Asia, 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.

Gjensidige Forsikring

Market Cap: NOK 129.2b

Provides general insurance and pension products in Norway, Sweden, Denmark, Finland, Latvia, Lithuania, and Estonia.

United Spirits

Market Cap: ₹1.1t

Engages in the manufacture, sale, and distribution of alcoholic beverages and other allied spirits in India and internationally.

MTN Group

Market Cap: R225.8b

Provides mobile telecommunications services in South Africa, Nigeria, South and East Africa, West and Central Africa, and the Middle East and North Africa.

BPER Banca

Market Cap: €11.1b

Provides banking products and services for individuals, and businesses and professionals in Italy and internationally.

ageas

Market Cap: €11.0b

Engages in insurance business.

Helvetia Holding

Market Cap: CHF 10.3b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

Shree Cement

Market Cap: ₹1.1t

Engages in the manufacture and sale of cement and clinker in India and internationally.

S.P.E.E.H. Hidroelectrica

Market Cap: RON 55.2b

Produces and supplies hydro, wind, and energy electricity in Romania.

Universal Health Services

Market Cap: US$12.3b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

Tokyo GasLtd

Market Cap: JP¥1.8t

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

Etihad Etisalat

Market Cap: ر.س45.9b

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

Taiwan Cooperative Financial Holding

Market Cap: NT$365.4b

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

Adani Energy Solutions

Market Cap: ₹1.0t

Generates, transmits, and distributes power in India.

Canara Bank

Market Cap: ₹1.0t

Provides various banking products and services in India and internationally.

IDBI Bank

Market Cap: ₹1.0t

Engages in the provision of banking and financial solutions to retail and corporate clients in India.

SCB X

Market Cap: ฿399.0b

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

Hua Nan Financial Holdings

Market Cap: NT$362.4b

Engages in the banking, securities, insurance, venture capital and asset management activities in Taiwan and internationally.

Indus Towers

Market Cap: ₹1.0t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India.

Encompass Health

Market Cap: US$12.1b

Provides post-acute healthcare services in the United States and Puerto Rico.

Montage Technology

Market Cap: CN¥86.7b

An integrated circuits design company, provides IC solutions for cloud computing and data center markets in the People’s Republic of China.

Grupo Bimbo. de

Market Cap: Mex$233.7b

Produces, distributes, and sells various bakery products.

Shanghai Rural Commercial Bank

Market Cap: CN¥86.4b

Provides a range of banking products and services to individual and corporate customers in China.

Origin Energy

Market Cap: AU$18.6b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.

Maplebear

Market Cap: US$11.9b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

RenaissanceRe Holdings

Market Cap: US$11.9b

Provides reinsurance and insurance products in the United States and internationally.

Bajaj Housing Finance

Market Cap: ₹1.0t

Provides housing finance services in India.

Samsung Fire & Marine Insurance

Market Cap: ₩16.4t

Engages in the provision of non-life insurance products and services in Korea, China, the United States, Indonesia, Vietnam, Singapore, and the United Kingdom.

Tsingtao Brewery

Market Cap: HK$93.1b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

WH Group

Market Cap: HK$92.9b

An investment holding company, produces and sells packaged meats and pork in China, North America, and Europe.

China Zheshang Bank

Market Cap: HK$92.5b

Provides various commercial banking products and services in Mainland China.

Banco Comercial Português

Market Cap: €10.4b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

T&D Holdings

Market Cap: JP¥1.7t

Through its subsidiaries, provides insurance products and services primarily in Japan.

Hims & Hers Health

Market Cap: US$11.7b

Operates a telehealth platform that connects consumers to licensed healthcare professionals in the United States, the United Kingdom, and internationally.

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥84.4b

Henan Shuanghui Investment & Development Co.,Ltd.