Swedish Software Defensive Blue Chips

Principal Financial Group

Market Cap: US$24.4b

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

Inner Mongolia Yili Industrial Group

Market Cap: CN¥165.2b

Inner Mongolia Yili Industrial Group Co., Ltd.

Coca-Cola HBC

Market Cap: UK£18.1b

Engages in the production, sale, and distribution of non-alcoholic ready-to-drink beverages under franchise in Switzerland, West Coast of Ireland, Central and Eastern Europe, Nigeria, and internationally.

Markel Group

Market Cap: US$24.1b

Engages in the insurance business in the United States, the United Kingdom, Bermuda, Germany, rest of the European Union, Canada, and the Asia Pacific.

First Solar

Market Cap: US$24.1b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

National Bank of KuwaitK.P

Market Cap: د.ك7.4b

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.

Aeon

Market Cap: JP¥3.9t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

First Citizens BancShares

Market Cap: US$23.8b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

BNP Paribas Fortis

Market Cap: €20.7b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Sigma Healthcare

Market Cap: AU$33.7b

Operates as a retail pharmacy franchisor and pharmaceutical wholesale and distributor to community pharmacies primarily in Australia.

Snam

Market Cap: €20.5b

Engages in the operation of natural gas transport and storage infrastructure.

Bank Mandiri (Persero)

Market Cap: Rp417.7t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Malaysia, Hong Kong, Timor Leste, Shanghai, England, and the Cayman Islands.

NN Group

Market Cap: €20.5b

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

VERBUND

Market Cap: €20.3b

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

Banco do Brasil

Market Cap: R$118.5b

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

Xi'an ESWIN Material Technology

Market Cap: CN¥157.2b

Xi'an ESWIN Material Technology Co., Ltd.

Telefónica

Market Cap: €20.3b

Provides telecommunications services in Spain, Brazil, Germany, and the United Kingdom.

Loews

Market Cap: US$23.2b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

Lasertec

Market Cap: JP¥3.8t

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

Terna

Market Cap: €20.2b

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally.

Brown & Brown

Market Cap: US$22.7b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, the United Kingdom, and internationally.

JCET Group

Market Cap: CN¥153.0b

Provides integrated-circuit back-end and technology services in China, South Korea, the United States, and internationally.

Constellation Brands

Market Cap: US$22.5b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Technoprobe

Market Cap: €19.7b

Produces and sells electronic circuits in Italy, Asia, the United States, and rest of Europe.

Bunge Global

Market Cap: US$22.5b

Operates as an agribusiness and food company worldwide.

MACOM Technology Solutions Holdings

Market Cap: US$22.4b

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

Quest Diagnostics

Market Cap: US$22.3b

Provides diagnostic testing and services in the United States.

Labcorp Holdings

Market Cap: US$22.3b

Provides laboratory services.

Telefônica Brasil

Market Cap: R$113.3b

Operates as a mobile telecommunications company in Brazil.

Riyad Bank

Market Cap: ر.س82.5b

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

Heineken Holding

Market Cap: €19.1b

Engages in brewing and selling beer and cider in the Netherlands, Europe, the Americas, Africa & Middle East, Asia Pacific and internationally.

Mega Financial Holding

Market Cap: NT$706.1b

Provides various financial services in Taiwan.

China Minsheng Banking

Market Cap: CN¥147.6b

Provides banking products and services in the People's Republic of China.

Unipol Assicurazioni

Market Cap: €19.0b

Provides insurance products and services primarily in Italy.

Legal & General Group

Market Cap: UK£16.2b

Provides various insurance products and services in the United Kingdom, the United States, and internationally.

Coles Group

Market Cap: AU$31.1b

Operates as a retailer in Australia.